AI assistant
The Phoenix Mills Ltd. — Capital/Financing Update 2021
Jun 30, 2021
60675_rns_2021-06-30_0b14717d-48e3-495f-919e-5ec8fb7490b3.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 Fax: (022) 3001 6601 CIN No : L17100MH1905PLC000200
June 30, 2021
BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street, Fort, Bandra‐Kurla Complex, Bandra East, Mumbai‐ 400 001 Mumbai‐ 400051 Security code: 503100 Symbol: PHOENIXLTD Dear Sirs/Madam,
Sub: Investment by Reco Zinnia Private Limited, in The Phoenix Mills Limited’s Subsidiary Companies
This is further to our letter dated June 02, 2021, wherein we had informed you that The Phoenix Mills Limited (‘Company’) , GIC (Realty) Private Limited through its indirectly wholly owned entity viz. Reco Zinnia Private Limited (“RZPL”) and each of PML Subsidiaries viz. Offbeat Developers Private limited ('ODPL') , Graceworks Realty and Leisure Private limited ('GRLPL') and Vamona Developers Private limited ('VDPL') ('hereinafter ODPL, GRLPL and VDPL are together referred to as PML Subsidiaries'), have on June 01, 2021 inter alia executed Securities Subscription and Purchase Agreements and Joint Venture Agreements (“Definitive Agreements’) for investment of Rs.15,11,00,00,000/‐ in two tranches on an aggregate basis across ODPL, VDPL and GRLPL, subject to fulfillment of the terms and conditions contained in the Definitive Agreements.
In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that RZPL has, on June 30, 2021, completed its first tranche of investment on private placement basis in PML Subsidiaries, and by way of secondary acquisition of equity shares held by the Company in ODPL and VDPL aggregating to Rs. 11,11,00,00,000/‐ as per the details set out below.
| Sr. No. |
Name of the Subsidiary | Primary | Issuance | Secondary | Acquisition |
|---|---|---|---|---|---|
| No. of Shares issued and allotted |
Amount (in INR) |
No. of Shares transferred by the Company |
Consideration Amount *(in INR) ** |
||
| 1 | Offbeat Developers Private Limited |
19,189,802 | 4,156,164,770 | 90,21,749 | 1,90,39,48,060 |
| 2 | Vamona Developers Private Limited |
19,040,833 | 3,355,344,589 | 46,67,075 | 82,24,24,281 |
| 3. | Graceworks Realty and Leisure Private limited |
24,285 | 872,118,300 | NA | NA |
| Total | 838,36,27,659 | 272,63,72,341 |
Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9 Fax : (022) 2493 8388 E-mail : [email protected] www.thephoenixmills.com
Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 Fax: (022) 3001 6601 CIN No : L17100MH1905PLC000200
* Out of the consideration for the secondary acquisition of Rs.272.64 crores, Rs.50 crores is the deferred amount, which shall be released by RZPL as per the terms of the Securities Subscription and Purchase Agreements dated June 01, 2021 executed between inter alia the Company, ODPL, VDPL and RZPL in each case.
Subsequent to the completion of first tranche investment by RZPL, the Company and RZPL hold 73.56% and 26.44% respectively, of the paid up equity share capital in each of the said PML subsidiaries.
We request you to take the above information on record.
Thanking you,
Yours faithfully,
for The Phoenix Mills Limited
Gajendra Digitally signed by Gajendra Mewara Mewara Date: 2021.06.30 14:02:33 +05'30'
Gajendra Mewara
Company Secretary
Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9 Fax : (022) 2493 8388 E-mail : [email protected] www.thephoenixmills.com