Prestige Estates Projects is seeking the approval of its shareholders to raise up to Rs 1,000 crore through private placement of non-convertible debentures (NCDs). The NCDs may be issued in one or more tranches and the proceeds will be used to fund the company’s expansion plans. The proposal will be taken up at the real estate company’s annual general meeting on September 30.
Prestige Estates Projects is a property development and the flagship company of Prestige Group. Since its formation in 1986, the company has grown swiftly to become one of South India's leading Property Developers, helping shape the skyline across the Residential, Commercial, Retail, Leisure & Hospitality sectors.
