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PHOENIXLTD · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-0.9%1-day move

₹1825.20

prior close

₹1840.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-1.0-0.9-0.8-1.2-0.9-4.7-5.1-3.9-5.1-5.9-4.2-5.6+10.8—

Up moveDown movePending

AI summary

Mirabel Entertainment Private Limited, an Associate Company of The Phoenix Mills Ltd, has made an allotment of 4,35,000 equity shares via Right Issue to an existing shareholder. The Company did not participate in this Rights Issue. Following the allotment, Mirabel's paid-up share capital increased to Rs. 1,49,90,000. Consequently, Phoenix Mills' stake in Mirabel has been diluted from 50.00% to 35.49%. Mirabel continues to remain an Associate Company of The Phoenix Mills Ltd.

Likely market impact

The non-participation in the rights issue has resulted in a loss of majority control in Mirabel, reducing the company's effective ownership by nearly 15 percentage points. This may impact future consolidated financials and investor sentiment regarding subsidiary valuations.