Prestige Hospitality IPO: Rs 2,700 Crore Raise - News
x
Prestige Estates's hospitality arm, Prestige Hospitality Ventures, files for an IPO to raise up to Rs 2,700 crore. Learn more about the IPO details and the company's plans.
Photograph: Kind courtesy Prestige Group
New Delhi, Apr 24 (PTI) Realty firm Prestige Estates Projects Ltd arm Prestige Hospitality Ventures Ltd on Thursday filed preliminary documents with Sebi to launch its initial public offering (IPO) to raise up to Rs 2,700 crore, according to sources.
The company has filed the draft red herring prospectus (DRHP) with markets regulator Sebi.
In a regulatory filing on Thursday, Prestige Estates informed that a hospitality fund raising committee of the board approved the participation in the offer for sale of its subsidiary, Prestige Hospitality Ventures Ltd (PHVL), aggregating up to Rs 1,000 crore.
PHVL, which currently has seven hotels in operation, will raise up to Rs 1,700 crore through fresh issue of equity shares, sources said.
Bengaluru-based Prestige Estates is a leading real estate developer in the country. The company develops housing, office, retail and hotel projects.
The company has filed the draft red herring prospectus (DRHP) with markets regulator Sebi.
In a regulatory filing on Thursday, Prestige Estates informed that a hospitality fund raising committee of the board approved the participation in the offer for sale of its subsidiary, Prestige Hospitality Ventures Ltd (PHVL), aggregating up to Rs 1,000 crore.
PHVL, which currently has seven hotels in operation, will raise up to Rs 1,700 crore through fresh issue of equity shares, sources said.
Bengaluru-based Prestige Estates is a leading real estate developer in the country. The company develops housing, office, retail and hotel projects.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- KBC Global
- 0.58 ( -9.38)
- 75496759
- Enbee Trade & Fi
- 0.94 (+ 4.44)
- 51176636
- Vodafone Idea L
- 6.56 ( -0.76)
- 38744095
- Pradhin
- 0.37 (+ 8.82)
- 37543784
- Sunshine Capital
- 0.37 (+ 2.78)
- 28170643
MORE NEWS
© 2025 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback