The Phoenix Mills Ltd receives NCLT approval for ₹1,350 crore capital reduction at ISMDPL, cancelling CPP Investments’ 3,25,69,360 shares
- Phoenix Mills’ holding in ISMDPL will increase from 58.33% to 68.10%; CPP Investments’ stake will fall from 41.67% to 31.90%.
- The certified NCLT order is awaited.
- ISMDPL expects to pay within 30 days of filing the certified order with the Registrar of Companies.