The Phoenix Mills Limited has informed the Exchange about Acquisition
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Phoenix Mills' subsidiary Pallazzio Hotels & Leisure Limited has completed its investment in O2 Renewable Energy XXX Private Limited, receiving 4,73,000 equity shares (Rs. 10 face value) and 42,570 Series B Compulsorily Convertible Debentures (Rs. 1,000 face value) on August 29, 2025. Following this allotment, Pallazzio holds a 45% equity stake in O2 Renewable XXX. The investment is linked to a captive renewable energy (electricity) arrangement, as previously disclosed on July 9, 2025. JSW Neo Energy Limited is a co-party to the agreement.
This strategic acquisition of a 45% stake in a captive renewable energy entity supports long-term cost savings on power for Phoenix Mills' hotel operations and strengthens ESG positioning. For shareholders, this signals a forward-looking move on energy security but is not a material revenue-driving event on its own.