Government of Singapore hikes stake in Phoenix Mills

Feb 04 2014, 22:26 IST
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Government of Singapore held 18.72 lakh shares of Phoenix Mills, or a 1.29 per cent stake, at the end of December. Reuters Government of Singapore held 18.72 lakh shares of Phoenix Mills, or a 1.29 per cent stake, at the end of December. Reuters
SummaryThe shares were purchased at an average price of Rs 207 apiece, amounting to a total of Rs 106.37 crore.

The Government of Singapore today increased its stake in Phoenix Mills by acquiring shares in the open market in a transaction valued at Rs 106.37 crore.

Government of Singapore purchased 51,38,549 shares of Phoenix Mills, representing a 3.55 per cent stake in the company, according to bulk deal information with the stock exchanges.

The shares were purchased at an average price of Rs 207 apiece, amounting to a total of Rs 106.37 crore.

Separately, T Rowe Price offloaded 46.31 lakh Phoenix Mills shares, amounting to a 3.2 per cent stake, for almost Rs 96 crore. T Rowe Price Funds Sicav Asian Ex Japan Equity Fund sold 9.15 lakh shares and T Rowe Price New Asia Fund sold 37.15 lakh shares.

Government of Singapore held 18.72 lakh shares of Phoenix Mills, or a 1.29 per cent stake, at the end of December.

T Rowe Price New Asia Fund held 38.11 lakh shares, or a 2.63 per cent stake in the company, at the end of the previous quarter.

Led by Managing Director Atul Ruia, Phoenix Mills plans to foray into developing real estate in cities including Mumbai, Bangalore, Chennai, Pune, Raipur, Agra and Indore.

Phoenix Mills shares surged 4.76 per cent to close at Rs 217.75 on the BSE.

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