The Phoenix Mills Limited has informed the Exchange about Acquisition
PHOENIXLTD · price
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The Phoenix Mills Limited's subsidiary, Classic Mall Development Company Limited, has completed the allotment of 70,19,386 Class A Equity Shares (face value Rs. 10 each) in Torrent Urja 22 Private Limited. Following this, Classic Mall holds a 34.23% stake in Torrent. This is an update to a prior intimation dated November 28, 2025, when the Subscription and Shareholders' Agreement was first signed between Classic Mall, Torrent Green Energy Private Limited, and Torrent Urja 22 Private Limited. The acquisition is aimed at securing renewable energy (electricity) supply from a captive generating plant, supporting Phoenix Mills' sustainability and energy-cost goals. The transaction was executed through a subsidiary-level investment and does not involve any open offer obligation.
This acquisition strengthens Phoenix Mills' access to captive renewable energy, which could lower long-term power costs for its mall and commercial properties. It is a strategic, operational investment rather than a capital-markets event, so direct impact on the stock price is likely limited, though it signals management's focus on sustainability and energy security.