The Phoenix Mills has announced the successful completion of a strategic equity acquisition by its subsidiary Classic Mall Development Company Limited. The transaction involves acquiring a significant stake in Torrent Urja 22 Private Limited for renewable energy supply, marking an important step in the company's sustainable energy procurement strategy.

Share Acquisition Details

The acquisition involved the following key parameters:

Strategic Partnership Framework

The share acquisition is part of a comprehensive Security Subscription and Shareholders' Agreement executed on November 28, 2025. The strategic partnership involves multiple entities working towards renewable energy objectives:

• Classic Mall Development Company Limited (Phoenix Mills subsidiary)
• Torrent Green Energy Private Limited
• Torrent Urja 22 Private Limited

The partnership specifically focuses on subscribing to equity shares for purchasing renewable energy generated from captive generating plants, aligning with the company's sustainability initiatives.

Regulatory Compliance and Disclosure

Phoenix Mills has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has updated both BSE Limited and National Stock Exchange of India Limited about the completion of the acquisition process.

The information has been made available on the company's official website under the investor relations section, ensuring transparency and accessibility for stakeholders. This development provides a complete update on the renewable energy investment initiative following the company's earlier intimation.

Phoenix mills has officially cancelled its participation in the IIFL India Conference that was scheduled for institutional investor interactions in Mumbai. The company informed both major stock exchanges about this decision on February 26, 2026.

Regulatory Communication Details

The company filed the cancellation notice under Regulation 30 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015. Company Secretary Bhavik Gala signed the communication addressed to both BSE Limited and The National Stock Exchange of India Limited.

Previous Commitment and Reversal

The Phoenix Mills Limited had previously provided advance intimation on February 23, 2026, regarding its planned participation in the IIFL India Conference. The conference was organized by IIFL Institutional Equities specifically for investor interactions. However, the company has now decided not to attend the conference.

Compliance and Transparency Measures

In line with regulatory requirements and transparency practices, the company has uploaded this intimation on its official website. The document is available in the investors section under FY2026 Exchange Intimations at the company's website.

Corporate Communication Framework

The formal communication was addressed to the compliance departments of both stock exchanges where Phoenix Mills shares are listed. The notice ensures that all stakeholders, including investors and regulatory bodies, are informed about the change in the company's conference participation plans. This adherence to disclosure norms demonstrates the company's commitment to maintaining transparent communication with the investment community.