Phoenix Mills (PML) is set to acquire CPP Investments’ 49% stake in Island Star Mall Developers (ISMDPL) for ₹5,449.16 crore, gaining full ownership. The transaction, unfolding over three years, will consolidate PML’s control over key retail assets like Phoenix MarketCity Bengaluru and enhance shareholder value. ISMDPL’s revenue has seen substantial growth, reaching ₹919.7 crore in FY25.
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Phoenix Mills to acquire CPP Investments' 49% stake in ISMDPL for ₹5,449 crore
