Mumbai: HSBC Financial Services, Americorp Ventures, Barclays, and Citi
among others are looking to pick up equity stakes in the real estate firm Phoenix
Mills through a preferential issue.
to Monday''s closing price of Rs1721.55 per share, the 23.85 lakh share preferential
issue could raise over Rs400 crore, if shareholders of Phoenix Mills and other
statutory bodies approve the issue.
per the special resolution which the shareholders would consider by way of a postal
ballot, Citigroup Global Markets is proposed to be allotted 8.66 lakh shares,
followed by HSBC Financial Services (Middle East) with 4.15 lakh shares and DWS
Invest Bric with 3.20 lakh shares, according to data available in a communique
to the Bombay Stock Exchange.
Ventures (3 lakh shares), Rhodes Diversified (2.62 lakh shares), Barclays Mauritius
(1.31 lakh shares) and another Mauritius-based entity DB Fund (90,000 shares)
are also proposed to be allotted stakes in the preferential issue.
Mills is also seeking shareholders'' approval to raise funds through placement
of shares (in one or more tranches) to Qualified
Institutional Buyers, for up to Rs1,000 crore, subject to necessary provisions
results of the postal ballot would be announced on May 26.