The Phoenix Mills Limited has announced a reduction in its shareholding in Mirabel Entertainment Private Limited following a recent rights issue. On 7 May 2026, Mirabel, an associate company of Phoenix Mills, allotted 435,000 equity shares with a face value of ₹10 each through a rights issue to an existing shareholder. Notably, Phoenix Mills did not participate in this rights issue.
As a result of the rights issue, Mirabel’s paid-up share capital has increased to ₹1,49,90,000. Consequently, Phoenix Mills’ shareholding in Mirabel has been diluted from 50.00% to 35.49% of the total shareholding and voting rights. Despite this reduction, Mirabel continues to be recognised as an associate company of Phoenix Mills.
This development has been reported in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information is also available on the Phoenix Mills website for investors and stakeholders.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).