Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Phoenix Mills, CPPIB to invest Rs.700-Cr in JV entity Island Star Mall Developers
The Phoenix Mills Ltd and Canada Pension Plan Investment Board (CPPIB) are to infuse INR 700 crore via a rights issue in their (51:49) joint venture, Island Star Mall Developers (ISML). The funds would be used for the construction and development of the ongoing projects. deployment towards construction and development of the onâ€going projects of its subsidiaries at Wakad†Pune, Hebbal†Bangalore and Indore†Madhya Pradesh and for other mutually agreed purposes. In April 2017, the two companies had entered into a JV agreement to develop, own and operate retail-led mixed-use developments across India under ISML. The latest infusion completes their respective investment obligations towards ISML.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.