Phoenix Mills Merger & Restructuring
NCLT Chennai has sanctioned the scheme of merger and amalgamation involving several step-down subsidiaries of The Phoenix Mills Limited into Astrea Real Estate Developers Private Limited.
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NCLT Chennai has sanctioned the scheme of merger and amalgamation involving several step-down subsidiaries of The Phoenix Mills Limited into Astrea Real Estate Developers Private Limited.
The Phoenix Mills Limited's subsidiary, Mindstone Mall Developers, allotted 3,50,81,328 equity shares on a rights basis. The company invested Rs. 50.99 Crore to maintain its 51% stake.
The Phoenix Mills and its subsidiary Offbeat are acquiring equity and debentures in O2 Renewable Energy XXVIII for solar power captive use. Total consideration is ₹5.76 Crore.