New Delhi: Various entities of the Schroder Group have become substantial shareholders in Mumbai-based The Phoenix Mills (TPML) following acquisition of shares.
Entities like Schroder Investment Management, Schroder Investment Management (Hong Kong) and Schroder Investment Management (Singapore) have now become substantial shareholders.
The Schroder Group acquired 2,826,865 shares. These shares have 1.842 percent of total voting rights of the TPML. Before this acquisition, the Schroder Group held 5,734,425 equity shares giving 3.737 percent of the voting rights.
The acquisition was an open market transaction, TPML said in a regulatory filing.
The move comes at a time when TPML has plans to grow its retail and office portfolio of properties. The company aims to quadruple its office portfolio and double its retail assets presence in the next five years.
TPML has an office portfolio of 1.38 million sq ft and plans to take it to 5.28 million sq ft. Its retail portfolio is presently 5.96 million sq which it aims to make it 11.7 million sq ft, according to its investors presentation.