Prestige Group drops Rs 2,700 cr IPO plan for hospitality arm
Headline by Prism · from 1 report
Prestige Estates Projects Ltd has cancelled the planned IPO for its subsidiary Prestige Hospitality Ventures Ltd due to uncertain market conditions.
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The brief
Written by software from the 1 report below.
- Prestige Estates Projects Ltd has decided to withdraw the draft red herring prospectus for its hospitality subsidiary.
- The company previously intended to raise Rs 2,700 crore through this public offering.
- Prestige Hospitality Ventures Ltd may consider filing a new proposal in the future pending better market conditions.
- An agreement remains in place for Canada-based CPPIB to invest up to Rs 3,000 crore in the hospitality arm.
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All filed from India
NamedIndia · Canada · Prestige Hospitality Ventures Ltd · CPP Investment Board Pvt Holdings Inc · Prestige Estates Projects Ltd · Securities and Exchange Board of India
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