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Prestige Estates shelves ₹2,700 cr hotel biz IPO amid market uncertainty
Realty firm Prestige Estates has shelved plans to launch an initial public offering of its hotel business because of uncertain market conditions and other factors. In April last year, Prestige Estates Projects Ltd's subsidiary Prestige Hospitality Ventures Ltd (PHVL) filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to launch an IPO. The company planned to raise up to Rs 2,700 crore through a public issue. In a regulatory filing on Friday, the co…
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