Prestige Group hospitality arm files DRHP with SEBI to launch ₹2,700-cr IPO

As of December 31, 2024, the PHVL portfolio includes seven operating hotels with 1,445 keys that include 1,255 operational keys and a hospitality asset which is currently under renewal with 190 keys

Realty Firm Prestige Estates Projects LTD ARM Prestige Hospitality Ventures LTD has presented preliminary documents to Sebi to launch its initial public offer to raise up to ₹ 2.7 billion rupees.

At the end of Thorsday, the company presented the draft of the Red Arenque Prospect (DRHP) before the Sebi market regulator.

The OPI comprises a new issuance of nominal value capital shares of ₹ 5, each adding up to ₹ 1,700 million rupees and an offer of sale of capital shares that add up to ₹ 1,000 million rupees.

The sale offer includes prestige capital shares Projects LTD (promoter sales shareholder).

In a regulatory presentation on Thursday, Prestige Estates reported that a Committee for the Collection of Hospitality Funds of the Board approved the participation in the sacrifice for sale of its subsidiary prestige hospitality Ventures Ltd (PHVL), adding up to $ 1 billion of rupees.

Prestige statins based in Bangalore is one of the main real estate developers in the country.

The company develops housing, office, retail and hotel sale projects.

As of December 31, 2024, the PHVL portfolio includes seven operating hotels with 1,445 keys that include 1,255 operational keys and a hospitality asset that is currently under renewal with 190 keys.

In addition, the portfolio includes three on the hospitality assets of Ondoing with 951 expected keys that cover 1.88 million square meters. Ft. Developable area and nine hospitality assets with 1,558 expected keys and 2.64 million square feet.