The Phoenix Mills subsidiary, Classic Mall Development Company Limited, has successfully completed the subscription and allotment of 70,19,386 Class A Equity Shares in Torrent Green Energy Private Limited and Torrent Urja 22 Private Limited. This investment, initially announced on November 28, 2025, was for securing renewable energy. Following the allotment, Classic Mall now holds a 34.23% stake in Torrent.
Completion of Equity Share Subscription
This announcement serves as an update following a prior intimation dated November 28, 2025, regarding a key agreement between the Company’s subsidiary, Classic Mall Development Company Limited (‘Classic Mall’), and Torrent Green Energy Private Limited and Torrent Urja 22 Private Limited (‘Torrent’).
The agreement involved the subscription to 70,19,386 Class A Equity Shares, each having a face value of Rs. 10/-. The purpose of this transaction was for Classic Mall to procure renewable energy (electricity) generated from a captive power plant operated by Torrent.
Finalized Holding Structure
We confirm that the allotment of these 70,19,386 Class A Equity Shares has now been completed. As a result of this successful transaction, Classic Mall now holds a substantial 34.23% stake in Torrent, securing its access to the renewable energy source as planned.
This material update, dated March 11, 2026, has been made public and uploaded to the Company’s investor relations section on the official website for comprehensive stakeholder review.
Source: BSE
