THE PHOENIX MILLS LTD

The Phoenix Mills Ltd - Acquisition

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06 May 2017
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly note that the Company on May 5, 2017 has acquired the entire holding of Insight Hotels & Leisure Private Limited (Insight) consisting of 10,000 equity shares of Rs. 10 each at par for a consideration of Rs. 1,00,000 and 7,000 Compulsorily Convertible Debentures (CCDs) of Rs. 100 each at par for a consideration of Rs. 7,00,000. The Company has also been allotted additional equity of (i) 20,000 equity shares of Rs. 10 each at par for a consideration of Rs. 2,00,000 and (ii) 70,000 equity shares of Rs. 10 each upon conversion of aforesaid 7,000 Compulsorily Convertible Debentures (CCDs) of Rs. 100 each.The Company has in all paid a total consideration of Rs. 10,00,000 for the aforesaid acquisitions and allotment of equity shares and CCDs. Accordingly, Insight has become a wholly owned subsidiary of the Company w.e.f May 5, 2017.
View all announcements for The Phoenix Mills Ltd	Source: BSE India

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