Phoenix Mills’ wholly owned subsidiary -- Phoenix Logistics and Industrial Parks (PLIPPL) has completed the acquisition of 100% equity shares of Janus Logistics and Industrial Parks pursuant to a Share Purchase Agreement (SPA) dated January 16, 2023 for an aggregate consideration of Rs 26.03 crore.
Accordingly, Janus Logistics and Industrial Parks (Janus) has become a wholly owned subsidiary of PLIPPL and a step down wholly owned subsidiary of the Company with effect from January 16, 2023. Janus owns a land parcel admeasuring approximately 33 acres situated at village Kabulpur, District, Faridabad and village Losighani, District Sohna, in the state of Haryana. The said acquisition is in line with the company’s previously disclosed plans of diversifying existing revenue streams and exploring synergies in related sectors such as Logistics and Warehousing business.
Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.
Company Name | CMP |
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NBCC (India) | 124.00 |
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