Phoenix Mills share price rose more than 2 percent on September 20 after the company's arm declared the highest bidder for two plots in Mohali, Punjab.
At 09:27am, Phoenix Mills was quoting at Rs 1,805.20, up Rs 42.25, or 2.40 percent, on the BSE.
A wholly owned subsidiary Casper Realty has been declared as the highest bidder for two prime city-centric plots in Mohali, Punjab, the company said in an exchange filing.
These plots - cumulatively measuring ~13.14 acres and auctioned by Greater Mohali Development Area Authority (GMADA), with a combined bid value of approximately Rs 891 crore.
The payment shall be completed within the timelines stipulated by GMADA and both plots are classified for commercial use the company intends to develop an iconic retail-led, mixed-use development on this land parcel, it added.
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The company had set September 21, as the record date for the bonus shares, in the ratio of one bonus share for each existing share held, marking the first bonus issue in nearly two decades.
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