+
CPP Investment Board finances a subsidiary of The Phoenix Mills
ECONOMY & POLICY

CPP Investment Board finances a subsidiary of The Phoenix Mills

CPP Investment Board (CPP Investment) has completed its second tranche of investment in Plutocrat Commercial Real Estate (PCREPL), a subsidiary of The Phoenix Mills, by subscribing to 1,109 equity shares with a face value of Rs 10 at a premium of Rs 14,42,731.2083 per equity share, totaling Rs 1.6 billion.

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.

Also read:
Schaeffler India charts capacity expansion over 3 years
Statistics Minis. report: Infra projects show cost overruns


CPP Investment Board (CPP Investment) has completed its second tranche of investment in Plutocrat Commercial Real Estate (PCREPL), a subsidiary of The Phoenix Mills, by subscribing to 1,109 equity shares with a face value of Rs 10 at a premium of Rs 14,42,731.2083 per equity share, totaling Rs 1.6 billion. 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. Also read: Schaeffler India charts capacity expansion over 3 years Statistics Minis. report: Infra projects show cost overruns

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?