Prestige Estates withdraws 2,700 crore rupee IPO plan
Headline by Prism · from 1 report
Prestige Estates has withdrawn its draft red herring prospectus for the IPO of its hospitality division, Prestige Hospitality Ventures, citing market instability and strategic reasons.
1 of 32 monitored outlets · 1 report · Tamil · checked
DinamaniThe brief
Written by software from the 1 report below.
- Prestige Estates decided to drop the initial public offering plan for its hospitality unit, Prestige Hospitality Ventures.
- The company had initially filed a draft prospectus with SEBI last April to raise 2,700 crore rupees.
- Management cited unfavorable market conditions and strategic reasons for this withdrawal.
- The company may consider refiling for an IPO in the future when market conditions improve.
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Indian-language1
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NamedIndia · Prestige Hospitality Ventures · Prestige Estates · Securities and Exchange Board of India
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