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Prestige Estates Projects to issue Rs 8000 crore worth equity shares via IPP

17 Jan 2013 Evaluate

In order to meet SEBI guidelines on public shareholdings, Bangalore-based realty firm Prestige Estates Projects, would be issuing up to 4.69 crore equity shares, worth over Rs 800 crore, through Institutional Placement Programme (IPP). The IPP Committee of the Board, in its meeting held on January 16, decided to issue up to 4.69 crore fresh equity shares. Further, the price band or the floor price and the issue opening and closing dates would be decided by the company in consultation with the book running lead managers.

Promoter group of the company currently own 80 per cent stake in the company. The issue of fresh equity shares would enable promoters to bring down their stake to meet the SEBI guidelines of 25 per cent minimum public shareholding.

The company has developed a diversified portfolio of real estate development projects focusing on the projects in residential (including apartments, villas, plotted developments and integrated townships), commercial (including corporate office blocks, built-to-suit facilities, technology parks and campuses and SEZs), hospitality (including hotels, resorts and serviced accommodation) and retail (including shopping malls) segments of the real estate industry.

Prestige EstatesProj Share Price

1357.50 19.70 (1.47%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 871.70
Dilip Buildcon 457.55
DLF 601.80
Oberoi Realty 1710.00
Ahluwalia Contract(I 832.90
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