The Phoenix Mills said the company's board at its meeting scheduled today, 29 June 2020 will consider a proposal to raise funds through various modes.
The Phoenix Mills said its board will today consider a proposal to raise funds by way of issue of the company's securities (equity and/or convertible instruments), through a rights issue / preferential issue / qualified institutions placement, subject to obtaining requisite regulatory / statutory approvals.
The announcement was made after market hours on Friday, 26 June 2020. Shares of The Phoenix Mills settled 2.14% higher at Rs 598.80 on Friday.
The Phoenix Mills group is the largest player in the Indian retail mall segment, and has a portfolio of of eight retail mall assets across major cities in the country. It also has an office portfolio of in Mumbai and Pune, two operational hotels (one in Mumbai and another in Agra), and residential real estate in Bengaluru and Chennai.
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