Phoenix Mills : June 30 2022 Investment by Reco Zinnia Private Limited in The Phoenix Mills Limited's Subsidiary Companies

Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor,

	R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011
	Tel: [phone] Fax : [phone]
	CIN No. : L17100MH1905PLC000200
June 30, 2022
To,
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 Sir(s)/Madam,

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements), 2015 - Investment by Reco Zinnia Private Limited, in The Phoenix Mills Limited's Subsidiary Companies

This is in furtherance to our letter dated June 02, 2021 wherein we had informed the Exchanges that The Phoenix Mills limited ("PML or Company") and its subsidiaries, 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'), had entered into and executed the Definitive Agreements with GIC (Realty) Private Limited through its indirectly wholly owned entity viz. Reco Zinnia Private Limited ("RZPL") for an investment of Rs.15,11,00,00,000/- in two tranches on an aggregate basis across ODPL, VDPL and GRLPL by way of a combination of primary infusion and secondary purchase of equity shares.

The Company further vide its letter dated June 30, 2021, informed that the RZPL had completed its first tranche of investment in PML Subsidiaries on private placement basis as well as by way of secondary acquisition of equity shares held by the Company in ODPL and VDPL aggregating to Rs. 11,11,00,00,000.

Subsequent to the completion of said first tranche investment by RZPL, the Company and RZPL held 73.56% and 26.44% respectively, of the paid-up equity share capital in each of the said PML subsidiaries.

Pursuant to the terms of the said Definitive Agreements, RZPL was entitled to further increase its equity holding upto the range of 32.80% to 35.91% in each of the aforesaid PML Subsidiaries subject to fulfilment of the terms mentioned in the Definitive Agreements.

In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we now wish to inform you that the Company, RZPL and each of PML Subsidiaries viz. ODPL, GRLPL and VDPL, have executed an Additional Subscription

Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : [phone] / 8 / 9 Fax : [phone] E-mail : [e-mail] Ÿ 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: [phone] Fax : [phone]

CIN No. : L17100MH1905PLC000200

Agreement, pursuant to which RZPL, has today i.e., June 30, 2022, completed its second tranche of investment of Rs. 4,00,00,00,000/- across ODPL, VDPL and GRLPL on private placement basis by subscribing to the equity shares of each of the PML Subsidiaries as per the details set out below.

Sr.	Name of the	Primary Issuance
No.	Subsidiary(ies)
		No. of Shares issued	Amount invested by RZPL
		and allotted	(in INR)
1	Offbeat Developers	1,02,79,236	2,18,78,54,258
	Private Limited
2	Vamona Developers	86,38,286	1,49,43,62,135
	Private Limited
3.	Graceworks Realty and	8,849	31,77,83,607
	Leisure Private limited
	Total		4,00,00,00,000

As a result of the aforesaid investment by RZPL and allotment of shares by respective PML Subsidiaries, the Company and RZPL hold 67.10% and 32.90% respectively, of the paid up equity share capital in each of the PML Subsidiaries.

We request you to kindly take the same on record.

Thanking you,

Yours faithfully,

For The Phoenix Mills Limited

GAJENDRA MEWARA

Digitally signed by

GAJENDRA MEWARA Date: 2022.06.30 17:02:59 +05'30'

Gajendra Mewara

Company Secretary

Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : [phone] / 8 / 9 Fax : [phone] E-mail : [e-mail] Ÿ www.thephoenixmills.com