Realty firm Prestige Estates Projects Ltd's subsidiary, Prestige Hospitality Ventures Ltd, has submitted preliminary documents to SEBI for its initial public offering (IPO) to raise up to ₹2,700 crore. The company filed the Draft Red Herring Prospectus (DRHP) with the market regulator late Thursday.
The IPO will consist of a fresh issue of equity shares with a face value of ₹5 each, amounting to up to ₹1,700 crore, along with an offer-for-sale of equity shares aggregating up to ₹1,000 crore.
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