Prestige Hotel Ventures Files Drhp With Sebi To Launch Rs 2700 Crore Ipo

SUMMARY

Prestige Hotel Ventures, a starring hospitality subordinate successful India, has revenge its Draft Red Herring Prospectus (DRHP) pinch nan Securities and Exchange Board of India (SEBI) for a Rs 2,700 crore initial nationalist offering (IPO). The IPO includes a caller rumor of equity shares worthy Rs 1,700 crore and an connection for waste up to Rs 1,000 crore, facilitated by nan promoter, Prestige Estates Projects. The IPO intends to raise costs for important financial goals, including indebtedness simplification and strategical maturation initiatives.
 

The institution intends to allocate astir Rs 1121.276 crore from nan proceeds to repay aliases pre-pay borrowings. This includes Rs 397.248 crore successful liabilities held by nan institution and its subsidiaries, Sai Chakra Hotels Private Limited and Northland Holding Company Private. An further Rs 724.028 crore is earmarked for strategical investments successful these subsidiaries. The remaining costs are group for inorganic maturation done acquisitions and different strategical initiatives.
 

As portion of nan Prestige Group, Prestige Hotel Ventures Limited focuses connected luxury, precocious upscale, and precocious midscale hospitality assets crossed India. The institution boasts a important portfolio, including 7 operational hospitality assets and 9 forthcoming projects, totalling 3,003 keys. With holdings successful cities for illustration Bengaluru, Delhi-NCR, and Mumbai, nan institution is strategically positioned successful cardinal municipality centres.
 

Prestige Hotel Ventures has seen a important summation successful its gross from hospitality services, pinch a compound yearly maturation complaint (CAGR) of 103.73% betwixt FY22 and FY24. The company's way grounds is further bolstered by its affiliations pinch prestigious brands specified arsenic Marriott International and Hilton Worldwide, holding nan largest number of keys nether Marriott's managed portfolio successful India.
 

The IPO will beryllium managed by JM Financial, CLSA India, JP Morgan India and Kotak Mahindra Capital Company. These lead managers will guideline nan offering to imaginable investors, highlighting nan company's robust maturation and strategical positioning successful nan hospitality sector.
 

Prestige Hotel Ventures' strategical intent done this IPO underlines its committedness to strengthening its financial position and expanding its marketplace presence. With a well-diversified portfolio and strategical partnerships, it seeks to leverage this IPO to further its maturation ambitions successful nan competitory hospitality landscape.

Published on: Apr 25, 2025 12:06 PM IST