Prestige Hospitality Ventures plans to use ₹1,121 crore from its IPO proceeds to repay debt while the remaining net proceeds will be utilised to fund acquisitions and strategic initiatives
Prestige Hospitality Ventures Limited, the hospitality assets wing of the Prestige Group, has filed its Draft Red Herring Prospectus (DHRP) with SEBI for a ₹2700 crore IPO.
The company plans to use ₹1,121 crore from its IPO proceeds to repay debt while the remaining net proceeds will be utilised to fund acquisitions and strategic initiatives.
Founded in 2017, Prestige Hospitality Ventures Limited is a hospitality asset owner and developer focused on luxury, upper upscale and upper midscale hospitality assets in India. As of December 31, 2024, the company has a portfolio of seven operating hospitality assets with 1,445 keys. It has operating arrangements with key hospitality players like Marriott International, Conrad by Hilton Group and Angsana Resort by Banyan Group.
The IPO includes a fresh issue of equity shares worth ₹1,700 crore and an offer for sale worth ₹1,000 crore by promoter Prestige Estates Projects Ltd, with all shares having a face value of ₹5 each.
The company posted a revenue of ₹795.695 crore in FY24 from sale of hospitality services, an increase from ₹636.169 crores in FY23.
(With inputs from businessline intern Rohan Das)
More Like This
Published on April 25, 2025
