Bengaluru-based Prestige Group, a leader in real estate and hospitality, is gearing up to launch a INR4,000-crore Initial Public Offering (IPO) for its hospitality division. Sources revealed that the company’s board has approved the plan, with the Draft Red Herring Prospectus (DRHP) expected to be filed by the end of April or early May.
The IPO will comprise a mix of primary and secondary share sales, with funds earmarked for developing new properties and reducing debt. Prestige is collaborating with four investment banks, including Kotak Mahindra Capital and JM Financial, to finalize the offering.
Prestige’s hospitality portfolio boasts prominent properties, such as the Sheraton Grand Hotel & Convention Centre in Whitefield, JW Marriott in Devanahalli, Hilton’s Conrad in Bengaluru, and Moxy Bengaluru Airport. Additionally, it includes luxury ventures like The Artiste in Kochi and Mulberry Shades in Devanahalli.
The Indian hospitality sector is witnessing strong investor interest, driven by growing domestic travel trends and the rising appeal of tourism. Prestige’s IPO aligns with the recent wave of hospitality listings, including Brookfield’s The Leela, Brigade Hotel Ventures, and Apeejay Surrendra Park Hotels.
