Prestige Estates Projects IPO : Files DRHP to raise Rs 1200 crore

by khalid on 01/12/2009 · 0 comments


Prestige Estates Projects is a Bangalore based realty firm. The company is planning to tap the buoyant market and filed draft red herring prospectus (DRHP) with the market regulator SEBI to raise Rs 1200 crore.

Prestige Estates Projects is having 23 years of experience in real estate field. The company has completed 142 real estate projects so far. Currently the company has development rights for 52.57 million sq ft of developable area.

Proceeds of the issue would be used to finance ongoing projects and projects under development, finance the acquisition of land and repay certain loans of company.

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