Phoenix Mills Share Price in Focus; Invests ₹51 Crore in Mindstone Mall Developers Via Rights Issue

The Phoenix Mills Ltd. has subscribed to the rights issue of its subsidiary Mindstone Mall Developers Private Limited, investing approximately ₹51 crore through a cash subscription, as per the exchange filings.  

The investment was made alongside CPP Investment Board Private Holdings (4) Inc., with the existing shareholding structure remaining unchanged.  

₹51 Crore Investment in Rights Issue 

Mindstone allotted 3,50,81,328 equity shares of ₹10 face value each at a price of ₹28.50 per share, including a premium of ₹18.50 per share. The total rights issue raised approximately ₹99.98 crore, with Phoenix Mills subscribing to its proportionate entitlement.  

Phoenix Mills was allotted 1,78,91,477 equity shares, requiring a cash investment of ₹50,99,07,094.50.  

Shareholding Remains Unchanged 

Following the rights issue, Phoenix Mills continues to hold a 51% stake in Mindstone, while CPP Investment continues to hold the remaining 49%.  

The transaction therefore does not result in any change in the ownership structure of the subsidiary.  

Mindstone Focuses on Mall Operations 

Mindstone Mall Developers is engaged in the operation, management and leasing of malls and operates in India. Phoenix Mills is its promoter and holding company.  

The subsidiary reported nil turnover in FY26, FY25 and FY24. Its PAT stood at -₹0.35 crore in FY26, compared with -₹3.38 crore in FY25 and -₹1.23 crore in FY24. Its net worth stood at ₹568.14 crore as of FY26.  

Read More: Bharti Airtel Share Price in Focus; Airtel Business, ITI Limited Enter Strategic Partnership! 

Phoenix Mills Share Price Performance 

As of August 10, 2026, Phoenix Mills share price closed at ₹1,935.00 per share, reflecting a surge of 2.08% from the previous trading session. 

Conclusion 

Phoenix Mills' ₹50.99 crore investment strengthens its funding support for Mindstone Mall Developers while maintaining its existing 51% ownership. The transaction is aligned with the subsidiary's mall operation, management and leasing activities.  

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