Prestige Estates Projects Ltd, a leading real estate developer, is in the spotlight after its hospitality subsidiary Prestige Hospitality Ventures Ltd (PHVL) filed draft papers with SEBI to raise ₹2,700 crore through an initial public offering (IPO).
According to an exchange filing on April 24, the company’s board has approved participation in an Offer for Sale (OFS) worth ₹1,000 crore, which forms part of the IPO structure.
IPO breakdown: Fresh issue and OFS
The proposed IPO will consist of two components:
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Fresh issue of shares worth ₹1,700 crore, expected to fund the expansion of PHVL’s hospitality portfolio and reduce debt.
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Offer for sale of ₹1,000 crore, enabling Prestige Estates to offload part of its stake in the subsidiary.
The equity shares will carry a face value of ₹5 each and will be priced within a band to be determined in consultation with book running lead managers.
About Prestige Hospitality Ventures
PHVL currently operates seven hotels and is part of the broader Prestige Group, known for its residential, office, retail, and hospitality developments. The upcoming IPO is seen as a strategic move to unlock value and accelerate growth in the hospitality segment.
Other upcoming IPOs
The IPO of Ather Energy, valued at ₹2,980.76 crore, is set to open on April 28, marking the first mainboard listing of FY26. Additionally, Tata Capital Ltd has confidentially filed a DRHP with SEBI for a $2 billion IPO, as part of Tata Group’s financial sector expansion.
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