The Phoenix Mills Limited has increased its shareholding in O2 Renewable Energy XXVIII Private Limited, receiving 2,74,332 Equity Shares and 24,690 Series B Compulsory Convertible Debentures. Its subsidiary, Offbeat Developers Private Limited, also received a substantial allotment. Consequently, the group now holds a combined 45.00% equity shareholding in O2 Renewable Energy XXVIII, strengthening its position in renewable energy assets.
Increased Shareholding in Renewable Energy Venture
The Phoenix Mills Limited announced an update regarding its investment in O2 Renewable Energy XXVIII Private Limited. Following an earlier intimation dated July 29, 2026, the company has been allotted 2,74,332 Equity Shares with a face value of Rs. 10/- each and 24,690 Series B Compulsory Convertible Debentures valued at Rs. 1000/- each.
Subsidiary’s Allotment
In parallel, the company’s subsidiary, Offbeat Developers Private Limited, also received an allotment of 302,568 Equity Shares (face value Rs. 10/- each) and 27,231 Series B Compulsory Convertible Debentures (face value Rs. 1000/- each). These allotments were made on August 19, 2026, as part of the ongoing subscription and shareholders’ agreement.
Combined Stakeholdings
As a result of these allotments, The Phoenix Mills Limited, along with its subsidiary Offbeat Developers Private Limited, now collectively holds 45.00% equity shareholding in O2 Renewable Energy XXVIII. This move aims to meet the captive user requirements for purchasing renewable energy generated from the captive power plant.
Source: BSE
