Phoenix Mills’ subsidiary -- Sparkle One Mall Developers (Sparkle One) has made an investment of Rs 4.68 crore by subscribing to 4,68,282 Equity shares of Rs 10 each and 42,145 Compulsory Convertible Debentures of Rs 1000 each of O2 Renewable Energy XIII (O2 Renewable XIII) for purchase of renewable energy (electricity) generated from the captive generating plant.
Post this transaction, Sparkle One will hold 30.95% equity stake in O2 Renewable XIII.
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.
