InvestorQ : Why has Phoenix Mills raised funds in the market?
Ria Jain made post

Why has Phoenix Mills raised funds in the market?

Answer
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Dia Deshpande answered.
2 months ago


Phoenix Mills raised Rs.1100 crore via sale of shares to institutional investors. One of the investors was the Government of Singapore. Phoenix allotted a total of 1.82 crore shares to qualified institutional buyers at Rs.605 per share aggregating to Rs.1100 crore.

Government of Singapore purchased a total of 74.38 lakh shares of Phoenix for a consideration of Rs.450 crore accounting for 41% of the issue. Other institutional investors included ICICI Pru MF, SBI MF, Birla MF etc.