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The NCLT has approved the merger of 6 step down subsidiaries of Phoenix Mills Ltd cumulatively holding 7.08 acres land

ICICIdirect Research 07 Sep 2026 DISCLAIMER

News: The NCLT has approved the merger of 6 step down subsidiaries of Phoenix Mills Ltd cumulatively holding 7.08 acres land into its direct subsidiary named Astrea Real Estate Developers Pvt. Ltd. 

View: This will help simplify organisational structure and pave the way for the development of a greenfield retail project in Coimbatore. Phoenix Mills plans to develop a 1 msf gross leasable area retail project in Coimbatore with an estimated completion timeline of 2030. This development is a regulatory development and is not expected to have a significant impact on stock price of the company.

Impact: Neutral

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