Prestige Hospitality Ventures Eyes Rs 2,700 Crore IPO

Prestige Hospitality Ventures Ltd, an arm of Prestige Estates Projects Ltd, is set to launch an IPO aiming to raise Rs 2,700 crore. This will involve an offer for sale of Rs 1,000 crore and a fresh equity issue of Rs 1,700 crore to fund its seven operational hotels.

Prestige Hospitality Ventures Ltd, a subsidiary of the prominent real estate firm, Prestige Estates Projects Ltd, is preparing to go public by launching an Initial Public Offering (IPO) to amass up to Rs 2,700 crore.

Documents filed with the Securities and Exchange Board of India (SEBI) reveal that this strategic financial move consists of an offer for sale worth Rs 1,000 crore, while the remaining Rs 1,700 crore will be secured through the issuance of fresh equity shares.

Headquartered in Bengaluru, Prestige Estates Projects Ltd is renowned for its contributions to housing, office spaces, retail, and hotel projects across the nation, with its hospitality arm currently managing seven operational hotels.

(With inputs from agencies.)