The Phoenix Mills has acquired entire share capital of Destiny Hospitality Services (DHSPL) comprising of 10,000 equity shares of Rs 10 each at par for a total consideration of Rs 1,00,000 on April 25, 2018.
Subsequent to the above acquisition, DHSPL has become a wholly owned subsidiary of the company with effect from April 25, 2018. DHSPL will be engaged in the business of real estate development activities.
Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.