BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
On Dec. 1, Phoenix Mills Ltd. along with subsidiaries Offbeat Developers Pvt., Graceworks Realty and Leisure Pvt. and Vamona Developers Pvt. has jointly signed a non-binding term sheet with an affiliate of GIC Pvt. for the formation and development of a strategic retail-led mixed use platform.
According to the disclosures, the company will contribute retail assets with gross leasable area of 2.33 million square feet and commercial retail assets with gross leasable area of 1.03 msf.
According to the company, the assets contributed by Phoenix Mills are indicatively d at an approximate enterprise of Rs 56 billion-Rs 57 billion. This is in line with our valuation.
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