CPP Investment Board finances a subsidiary of The Phoenix Mills

The Phoenix Mills and CPP Investment now possess 59.74% and 40.26%, respectively, of the paid up equity share capital in PCREPL as a result of the aforementioned investment by CPP Investment and the allocation of equity shares by PCREPL.

The shareholders agreement and securities subscription and purchase agreement were executed by CPP Investment through its entity, CPP Investment and PCREPL, for an investment of Rs 13.5 billion by CPP Investment in multiple tranches on an aggregate basis, through a combination of primary and secondary investments, according to information provided by the company on November 15, 2021.

On November 17, 2021, CPP Investment completed its first round of investment in PCREPL totaling Rs 7.87 billion by subscribing to 5,195 equity shares with a face value of Rs 10 each. Additionally, 260 equity shares of PCREPL were acquired through secondary acquisition from the company.

After the first tranche of CPP Investment's investment was finished, the firm and CPP Investment held 64.10% and 35.90%, respectively, of PCREPL's paid-up equity share capital.

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