Mega-rich Singapore government pumped more money into Pheonix Mills to help fund it's real estate ambition

The Economic Times, 4 Feb 2014
The Government of Singapore today increased its stake in Phoenix Mills by acquiring shares in the open market in a transaction valued at Rs 106.37 crore.
Government of Singapore purchased 51,38,549 shares of Phoenix Mills, representing a 3.55 per cent stake in the company, according to bulk deal information with the stock exchanges.
The shares were purchased at an average price of Rs 207 apiece, amounting to a total of Rs 106.37 crore.
Led by Managing Director Atul Ruia, Phoenix Mills plans to foray into developing real estate in cities including Mumbai, Bangalore, Chennai, Pune, Raipur, Agra and Indore. Full story

Government of Singapore hikes stake in Phoenix Mills - Financial Express