Transaction Details
On August 19, 2026, O2 Renewable Energy XXVIII Private Limited allotted securities to The Phoenix Mills Limited and its subsidiary Offbeat Developers Private Limited:
- The Phoenix Mills Limited Allotment:
- 2,74,332 Equity Shares of face value ₹10 each
- 24,690 Series B Compulsory Convertible Debentures (CCDs) of face value ₹1,000 each
- Offbeat Developers Private Limited Allotment:
- 302,568 Equity Shares of face value ₹10 each
- 27,231 Series B Compulsory Convertible Debentures (CCDs) of face value ₹1,000 each
Post-Allotment Ownership Structure
Following this allotment, The Phoenix Mills Limited together with its subsidiary Offbeat Developers Private Limited now hold 45.00% equity shareholding in O2 Renewable Energy XXVIII Private Limited.
Purpose and Context
The investment through equity shares and Series B CCDs is to meet the captive user requirements for purchase of renewable energy (electricity) generated from the captive generating plant. This transaction follows the amended Security Subscription and Shareholders' Agreement between The Phoenix Mills Limited, Offbeat Developers Private Limited, JSW Neo Energy Limited and O2 Renewable Energy XXVIII Private Limited.
Additional Information
The disclosure has been uploaded on the company's website at https://www.thephoenixmills.com/investors/FY2027/Exchange-Intimations.