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Indian hotel developer Prestige Hospitality Ventures has filed for an up to Rs27bn (US$317m) IPO comprising a primary portion of Rs17bn and secondary of Rs10bn.
Controlling shareholder Prestige Estates Projects is the vendor, according to the draft prospectus.
The company is also planning a pre-IPO placement of up to Rs3.4bn and, when completed, will reduce the primary component of the IPO.
PHV operates hotels under brands such as Conrad, Sheraton Grand, JW Marriott and Angsana.
Revenue in the nine months ended December was Rs10.1bn, up 47% from Rs6.89bn in the same period of 2023. Net profit was Rs679.8m, down 18% from Rs825.9m.
CLSA, JM Financial, JP Morgan and Kotak are the lead managers.
Source: IFR
