Prestige Estates’ hospitality arm plans ₹2,700 crore IPO, DRHP filed

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 ₹1,000 crore. PHVL, which currently has seven hotels in operation, will raise up to ₹1,700 crore through fresh issue of equity shares, sources said.

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