Phoenix Mills, a retail-led assets company has acquired entire equity stake held by MTX Hotels, Amitabh Tayal and Priyank Tayal in Gangetic Hotels (GHPL) aggregating to 19.38% of GHPL's equity share capital on Oct. 06, 2015.

Accordingly, subsequent to the aforesaid acquisition, in terms of the provisions of the Companies Act, 2013, GHPL has become a subsidiary of the company with effect from Oct. 06, 2015.

Shares of the company gained Rs 4.95, or 1.54%, to settle at Rs 326.30. The total volume of shares traded was 2,815 at the BSE (Tuesday).