Image Source: Outlook India
Prestige Hospitality Ventures, the hospitality arm of the Indian real estate giant Prestige Estates, has made its intention public to raise ₹27 billion (about $317 million) through an initial public offering (IPO).
The offering will comprise of a fresh issue of shares of up to ₹17 billion, to be issued by the company, and an offer-for-sale (OFS) of up to ₹10 billion from existing shareholders. Prestige Hospitality Ventures is likely to use the net proceeds from the fresh issue of shares to pursue the expansion of its hotel and resort portfolio in India and to pay down debt to strengthen its balance sheet.
The book running lead managers for the IPO are JM Financial, J.P. Morgan India, Kotak Mahindra Capital and CLSA. This comes at a time where investor interest in the Indian hospitality sector is strong after several successful listings in recent years and rising demand for high-end accommodations from a growing domestic travel market. Prestige Hospitality Ventures currently owns and operates 10 luxury hotels in top cities, such as JW Marriott Bengaluru Prestige Golfshire, Sheraton Grand Hotel & Convention Centre in Whitefield and Conrad Bengaluru.
The IPO is being positioned for June 2025, subject to regulatory approvals. It is intended to be one of the larger IPOs in the Indian hospitality sector during 2025, a sign of the resilience of hospitality and Prestige Group’s desire to unlock more value for its stakeholders.
Source: Reuters
Source: ReutersPrestige Hospitality Ventures, the hospitality arm of the Indian real estate giant Prestige Estates, has made its intention public to raise ₹27 billion (about $317 million) through an initial public offering (IPO).
The offering will comprise of a fresh issue of shares of up to ₹17 billion, to be issued by the company, and an offer-for-sale (OFS) of up to ₹10 billion from existing shareholders. Prestige Hospitality Ventures is likely to use the net proceeds from the fresh issue of shares to pursue the expansion of its hotel and resort portfolio in India and to pay down debt to strengthen its balance sheet.
The book running lead managers for the IPO are JM Financial, J.P. Morgan India, Kotak Mahindra Capital and CLSA. This comes at a time where investor interest in the Indian hospitality sector is strong after several successful listings in recent years and rising demand for high-end accommodations from a growing domestic travel market. Prestige Hospitality Ventures currently owns and operates 10 luxury hotels in top cities, such as JW Marriott Bengaluru Prestige Golfshire, Sheraton Grand Hotel & Convention Centre in Whitefield and Conrad Bengaluru.
The IPO is being positioned for June 2025, subject to regulatory approvals. It is intended to be one of the larger IPOs in the Indian hospitality sector during 2025, a sign of the resilience of hospitality and Prestige Group’s desire to unlock more value for its stakeholders.
Source: Reuters
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