Pursuant to Regulation 30 of the SEBI Listing Regulations we hereby inform that the Company along with its Wholly Owned Subsidiary i.e. Escort Developers Private Limited (Escort) has proposed to dispose off its entire equity shareholding being 38 49 058 (Thirty Eight Lakhs Forty Nine Thousand Fifty Eight) Equity Shares aggregating to 50% (fifty per cent) of the Equity Share Capital in its associate company Classic Mall Development Company Limited subject to the approval of shareholders as per the provisions of Section 180 of the Companies Act 2013 for a consideration of INR 918 Crores (Indian Rupees Nine Hundred and Eighteen Crores) approximately to The Phoenix Mills Limited (either by themselves and/or through their affiliates) (Purchaser).
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