Amalgamation/Merger

The NCLT Chennai has sanctioned the merger of multiple step-down subsidiaries (Coimbatore Sameera Investments, Dhanalakshmi Engineering, Pulankinar Investment, Shanthi Chandran Enterprisers, Shanthi Chandran Investments Coimbatore, and Sheela Traders) with Astrea Real Estate Developers, a subsidiary of The Phoenix Mills Limited.

This strategic move aims to consolidate and streamline the internal corporate structure of the group.

No swap ratios or direct shareholding changes for Phoenix Mills' public investors were disclosed.

This NCLT approval is a critical step in their ongoing group restructuring.