Phoenix Mills Shareholders Approve 1:1 Bonus Issue At AGM

Shareholders of Phoenix Mills Ltd. approved the issuance of bonus equity shares in a 1:1 ratio at the company's 119th Annual General Meeting held on Friday.

Eligible shareholders will receive one fully paid-up equity share with a face value of Rs 2 for every one equity share they currently hold, as of the record date set for Sept. 21.

The bonus issue is subject to statutory and regulatory approvals. Additionally, the company will increase its authorised share capital from Rs 49 crore to Rs 75 crore.

The retailer's sales stood at Rs 3,214 crore, up 25% in the first quarter of fiscal 2025, backed by strong double-digit growth in Phoenix Market City. Gross retail collection of the company was at Rs 794 crore, higher by 28% as compared to the same quarter of the previous fiscal.