Prestige Estates Explores $300 Million Hospitality Stake Sale, Shelving IPO

1 articles · Updated · Bloomberg · Jun 18

Prestige Estates has begun talks with potential private equity investors to raise about $300 million by selling a minority stake in Prestige Hospitality Ventures.
The Bengaluru-based developer is considering putting an initial public offering of the hospitality unit on hold as it pursues the private placement instead.
The move would shift fundraising for the hotel business from public markets to a negotiated stake sale, with discussions still private and exploratory.