Phoenix Mills promoters sell 7.28% for Rs 833 crore

Date posted: Thursday 27 August 2020

Promoters of mall developer and operator The Phoenix Mills have sold 7.28% stake in the company through bulk deals to raise over Rs 833 crore.Last week, the company had raised Rs 1,100 crore through a Qualified Institutional Placement (QIP) issue. Two promoter entities sold a total 1.25 crore shares of the company in early trade.Of these, Radhakrishna Ramnarain Pvt Ltd sold 1.15 crore shares at Rs 666 per share, while Senior Advisory Services Pvt Ltd sold 10 lakh shares at Rs 672 per share.

(Economic Times)