MPC Synergy to invest in Phoenix Mills

August 25, 2008	(Be the first to rate this story!)  Loading ...
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MPC Synergy, a German based company will be investing up to EUR 200 million at the SPV level of the Phoenix Mills Group as well as the EWDPL Group. Phoenix Mills holds about 42% stake in Entertainment World Developers, India, engaged in the construction and operation of mixed-use retail centers and townships. It is also a tier II city centric retail mall, mixed use developer. Shares of the company gained Rs 7.95, or 4.73%, to trade at Rs 176. The total volume of shares traded was 57,434 at the BSE (10.58 a.m., Friday). The move is one of the many being taken by global firms wanting to grab a share of the Indian Pie. The increasing Foreign Direct Investment will give a boost to the already booming economy.

News Published Under:   Real Estate India, Foreign Direct Investment in India |

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