Phoenix Mills - Allocation Of Equity Shares To Qualified Institutional Buyers

Phoenix Mills Ltd has informed that the Issue of Equity shares to Qualified Institutional Buyers by way of Qualified Institutions Placement under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (the SEBI Guidelines) (the issue) has closed and QIP Committee of the Board of Directors of the Company in its meeting held on July 31, 2007 has approved the allocation of 49,00,000 Equity Shares having face value of Rs 10/- each at a premium of Rs 1,990/- per equity share, thus aggregating Rs 980,00,00,000/- to the Qualified Institutional Buyers.