The Phoenix Mills Limited (BSE:503100) informed that the 'Capital Raising Committee' of the Board of Directors of the Company at its meeting held on, July 13, 2020, considered and approved, amongst others, the following: (1) raising of funds not exceeding INR 11 billion, through issuance of Equity Shares, nonconvertible debt instruments along with warrants and convertible securities other than warrants or Global Depositary Receipts ("GDRs") or Foreign Currency Convertible Bonds ("FCCBs"), ("Specified Securities"), to eligible investors including Foreign Institutions, Corporate Bodies, Mutual Funds, Banks, Insurance Companies, Pension Funds or individuals, either through Qualified Institutions Placement ('QIP') and/or on a Preferential basis and/or Private Placement and/or any other permissible mode(s), in one or more tranches, in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and in force ('SEBI ICDR Regulations'), and as all other applicable regulations, if any, and subject to such other consents/sanctions/approvals, whether regulatory or otherwise, as may be required.
The Phoenix Mills Limited is an India-based real estate development company. The Company is engaged in the development and leasing of commercial and retail space. The Company operates through two segments: Property and related services and Hospitality. The Property and related services segment are engaged in providing mall /office areas on license basis and development of commercial / residential properties. The Hospitality segment is engaged in the operation of hotels and restaurants. Its retail projects include Phoenix Palladium, Mumbai; Phoenix Marketcity, Pune; Phoenix Mall of the Millennium, Pune and Palladium, Chennai. Its commercial projects include Art Guild House, Mumbai; The Centrium, Mumbai; Fountainhead Tower 1, Pune; Fountainhead Tower 2, Pune; Fountainhead Tower 3, Pune and Phoenix House, Mumbai. Its hospitality projects include The St. Regis, Mumbai and Courtyard by Marriott, Agra. Its residential projects include One Bangalore West and Kessaku, Bangalore.