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Phoenix Mills announced in November 2021 that CPP Investment Board (CPP Investment) had completed its first tranche of investment of Rs 787 crore in Plutocrat Commercial Real Estate (PCREPL) (subsidiary of Phoenix Mills) by subscribing to 5,195 equity shares having face value of Rs 10/- each at a premium of Rs 14,42,723.3975 per equity share amounting to Rs 749.50 crore and by way of secondary acquisition of 260 equity shares of PCREPL from the Company, for a consideration of Rs 37.50 crore.
Subsequent to the completion of said first tranche of investment by CPP Investment, the Company and CPP Investment held 64.10% and 35.90% respectively, of the paid-up equity share capital in PCREPL.
Further on 27 March 2023, CPP Investment has completed its second tranche of investment in PCREPL on private placement basis by
subscribing to 1,109 equity shares having face value of Rs 10/- at a premium of Rs 14,42,731.2083 per equity share aggregating to Rs 160 crore.
As a result of the aforesaid investment by CPP Investment and allotment of equity shares by PCREPL, the Company and CPP Investment hold 59.74% and 40.26% respectively, of the paid up equity share capital in PCREPL.
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