April 15, 2025 – Bengaluru: Prestige Group, a prominent real estate developer based in Bengaluru, is preparing to launch a ₹4,000 crore initial public offering (IPO) for its hospitality division. The company’s board has approved the IPO plan, and the draft red herring prospectus (DRHP) is in advanced stages of preparation.Business News Today
According to sources cited by Moneycontrol, the IPO will consist of both primary and secondary share sales. The primary proceeds are intended for the development of new properties and debt reduction. Prestige Group is collaborating with four investment banks, including Kotak Mahindra Capital and JM Financial, to facilitate the IPO process. The DRHP is expected to be filed by the end of this month or early next month.Business News Today
The move comes at a time when investors are viewing the real estate and hospitality sectors as stable investment opportunities amid global market volatility influenced by U.S. President Donald Trump’s tariff policies. The IPO is anticipated to attract significant investor interest, reflecting confidence in the sector’s resilience.
📈 IPO coming soon | 📍 Bengaluru | 🏨 Hospitality sector focus
Source (full link):
https://www.moneycontrol.com/news/business/ipo/bengaluru-s-prestige-group-gearing-up-to-launch-rs-4-000-crore-ipo-for-hospitality-arm-12997269.html
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