ICICI Direct: Phoenix Mills’ Asset Monetisation At Favourable Terms
Shoppers ride the escalators inside a shopping mall in Mumbai, India. (Photographer: Adeel Halim/Bloomberg)

ICICI Direct: Phoenix Mills’ Asset Monetisation At Favourable Terms

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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.

ICICI Direct Report

Phoenix Mills Ltd. has entered into a non-binding term sheet with GIC affiliates for a strategic retail led mixed use development platform.

The company will contribute Phoenix Marketcity Mumbai, Phoenix Marketcity Pune, Art Guild House (office), Phoenix Paragon Plaza (office) and Centrium Mumbai (office) as a part of the platform.

GIC, on the other hand, will invest by way of a combination of primary infusion and secondary purchase of equity shares for a 26% stake initially at an enterprise value of approximately Rs 5600-5700 crore.

Click on the attachment to read the full report:

ICICI Direct PhoenixMills Company Update.pdf

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