CPP Investment Board finances a subsidiary of The Phoenix Mills

30 Mar 2023 CW Team

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

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..