The Phoenix Mills has completed the acquisition of balance 5,000 equity shares, constituting 50% of the share capital of Bartraya Mall Development Company for an aggregate consideration of Rs 50,000.
Accordingly, upon acquisition of such shares, Bartraya Mall Development Company has become a wholly owned subsidiary of the Company with effect from September 21, 2023. The acquisition is in line with the main line of business of company.
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.
