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News: Phoenix Mills wholly owned subsidiary Phoenix Logistics and Industrial Parks Pvt Ltd (PLIPPL) has completed the acquisition of 100% equity shares of Janus Logistics and Industrial Parks Pvt Ltd pursuant to a share purchase agreement (SPA) dated January 16, 2023 for an aggregate consideration of Rs 26 crore. Janus owns a land parcel admeasuring ~33 acres situated at village Kabulpur, District, Faridabad and village Losighani, District Sohna, in Haryana
Views: We highlight that this is the company’s first foray into the logistics and warehousing business. It had earlier indicated that it would undertake a pilot project with outlay of ~Rs 170-200 crore for a pilot project in the segment in order to diversify its revenue stream
Impact: Positive