Phoenix Mills Limited, a leading retail-led mixed-use developer in India, has received strong shareholder support for the exit of Canada Pension Plan Investment Board (CPP Investments) from its material subsidiary, Island Star Mall Developers Private Limited (ISMDPL). The resolution was passed through a postal ballot, with an overwhelming majority of 98.59% of valid votes cast in favor.

Voting Details

The postal ballot voting, conducted through remote e-voting, took place from August 15 to September 13, 2025. Out of the total 90,192 shareholders on record as of the cut-off date (August 8, 2025), 939 remote e-voting confirmations were received, covering 15.91 crore shares. After excluding 32 invalid confirmations, the final tally showed:

Breakdown by Shareholder Category

The voting results revealed interesting patterns across different shareholder categories:

1. Promoter and Promoter Group: Did not participate in the voting.
2. Public Institutions:
   • Polled 88.39% of their held shares
   • 98.58% voted in favor
   • 1.42% voted against
3. Public Non-Institutions:
   • Polled 6.01% of their held shares
   • 99.64% voted in favor
   • 0.36% voted against

Scrutinizer's Report

Mr. Himanshu S. Kamdar, Partner of Rathi & Associates, Practicing Company Secretaries, was appointed as the Scrutinizer for the remote e-voting process. The Scrutinizer's report, dated September 13, 2025, confirmed that the ordinary resolution was passed with the required majority.

Implications and Next Steps

The approval of this resolution paves the way for CPP Investments to exit from ISMDPL, a material subsidiary of Phoenix Mills Limited. This move could potentially lead to changes in the ownership structure and strategic direction of ISMDPL.

Phoenix Mills Limited has made the voting results and Scrutinizer's report available on the company's website and the MUFG Intime India Private Limited platform, ensuring transparency in the process.

As the retail and real estate sectors continue to evolve, this development may signal shifts in investment strategies and partnerships within the industry. Shareholders and market observers will be keen to see how this exit impacts both Phoenix Mills and ISMDPL's future operations and growth plans.

Phoenix Mills , a prominent real estate development company, recently completed a significant block trade on the National Stock Exchange (NSE), showcasing robust investor interest in the company's shares.

Block Trade Details

The block trade, executed on the NSE, involved approximately 508,242 shares of Phoenix Mills. The transaction was valued at ₹76.98 crores, with each share priced at ₹1,514.60. This substantial trade underscores the continued market interest in Phoenix Mills' stock.

Company Overview

Phoenix Mills is known for its portfolio of retail-led, mixed-use developments across India. The company has established itself as a key player in the real estate sector, particularly in the development and management of shopping malls, commercial properties, and hospitality assets.

Recent Investor Engagement

In a recent corporate filing, Phoenix Mills disclosed its participation in the Motilal Oswal 21st Annual Global Investor Conference held in Mumbai. During this event, the company engaged in group meetings with institutional investors, providing them with a general business overview and updates on industry trends.

Transparency and Investor Relations

The company's proactive approach to investor relations is evident from its timely disclosures. Phoenix Mills regularly participates in investor conferences and promptly reports these interactions to the stock exchanges, adhering to the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements.

Market Position

While specific financial details were not provided in the recent disclosures, the execution of a ₹76.98 crore block trade suggests continued investor confidence in Phoenix Mills' business model and growth prospects. The real estate sector, particularly retail and mixed-use developments, has been evolving rapidly, and Phoenix Mills' ability to attract significant trades indicates its strong position in the market.

The block trade and active investor engagement demonstrate Phoenix Mills' ongoing efforts to maintain transparency and foster relationships with institutional investors, potentially contributing to the company's visibility and liquidity in the stock market.