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Singapore govt fund sells 2.9% stake in Phoenix Mills for Rs.670-Cr

Business Standard  

A Singapore government owned fund has sold a 2.88 % stake in Mumbai-based Phoenix Mills, a retail-led mixed-use developer, for INR 669.54 crore through an open market transaction. In a bulk deal data transaction on the NSE, the Singapore government offloaded more than 51.49 lakh shares at an average price of INR 1,300.15 apiece. The fund had owned a 4.28 % stake in the company as of the December quarter. Phoenix Mills operates approximately 0.64 million square metres of retail space spread across six cities of India. The firm has developed over 2.11 million square meters spread across retail, hospitality, commercial, and residential asset classes.