Prestige Estates raises Rs 5,000 crore by selling shares via QIP route

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Realty firm Prestige Estates Projects Ltd has secured Rs 5,000 crore by issuing equity shares to institutional investors through a private placement. The company launched its Qualified Institutional Placement (QIP) on August 29 to raise these funds.

In a regulatory filing on Wednesday, Prestige Estates announced that its fundraising committee approved the allocation of 2,98,68,578 equity shares at an issue price of Rs 1,674 per share to qualified institutional investors.

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