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Phoenix Mills to raise Rs 1,200 cr via qualified institutional placement

The company's board has already taken an enabling resolution from shareholders to raise as much as Rs 1,200 crore

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This will be the first QIP by any real estate developer after Godrej Properties came out with one in June last year and raised Rs 2,100 crore

Raghavendra Kamath Mumbai

3 min read Last Updated : Aug 12 2020 | 10:38 PM IST

Phoenix Mills, one of the biggest mall developers in the country, is looking to float a qualified institutional placement (QIP) of the company’s shares to raise funds soon, said sources in the know.

This will be the first QIP by any real estate developer after Godrej Properties came out with one in June last year and raised Rs 2,100 crore.

Currently, Phoenix is conducting roadshows with investors via video and audio calls, informed sources.

The company’s board has already taken an enabling resolution from shareholders to raise as much as Rs 1,200 crore.

“They have cash of around Rs 750

Topics : Phoenix Mills QIP Fundraising

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