The Competition Commission of India (CCI) has approved The Phoenix Mills Limited’s acquisition of the remaining 49% stake in Island Star Mall Developers Private Limited (ISMDPL), resulting in full ownership and sole control over the retail real estate entity.
On August 19, 2025, CCI approved the acquisition of the remaining 49% equity in ISMDPL by The Phoenix Mills Limited. Currently, the Seller, Canada Pension Plan Investment Board (CPPIB), holds this portion. With the completion of this deal, CPPIB will fully exit the venture, and Phoenix Mills will become the 100% owner of ISMDPL, directly or via its affiliates.
The Phoenix Mills Limited is a leading developer and operator of commercial and retail spaces in India. Its portfolio includes malls, commercial offices, hospitality assets, food and beverage services, and residential sales. Through its subsidiaries, the company executes large-scale development projects in prime urban centres across the country.
Island Star Mall Developers, along with its subsidiaries, is active in designing, executing, operating, and leasing retail and commercial properties. It owns and manages several high-end retail establishments in key Indian cities, contributing significantly to Phoenix Mills' retail segment footprint.
Read More: Vodafone Idea to Acquire 26% Stake in Aditya Birla Renewables SPV 3 for Renewable Energy!
This acquisition marks a consolidation in Phoenix Mills’ portfolio and enables greater control over existing retail developments. Full ownership could drive operational synergies and long-term value creation, particularly in high-performing urban centres where ISMDPL has a presence.
The final detailed order from the CCI will follow. The transaction signifies a step towards streamlining the ownership structure and aligns with regulatory guidelines. The deal structure ensures compliance with Indian competition laws, enabling seamless transition.
On August 20, 2025, The Phoenix Mills share price opened at ₹1,503.30 on NSE, near the previous close of ₹1,503.30. During the day, it surged to ₹1,519.20 and dipped to ₹1,503.30. The stock is trading at ₹1,510.70 as of 9:17 AM. The stock registered a marginal change of 0.49%.
Over the past week, it has moved up by 5.14%, over the past month, it has moved up by 2.52%, and over the past 3 months, it has declined by 4.35%.
The Phoenix Mills’ move to acquire 49% remaining stake in ISMDPL from CPPIB strengthens its position in the Indian retail real estate landscape. With full ownership, the company aims for greater operational efficiency and strategic decision-making authority.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities are subject to market risks. Read all related documents carefully before investing.
Published on: Aug 20, 2025, 11:40 AM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
