Prestige Estates plans to raise up to Rs 5,000 crore via QIP; monetise hotel business
According to a regulatory filing on Friday, the company's board approved "raising of funds by way of issuance of equity shares or other eligible securities for an aggregate amount not exceeding Rs 5,000 crore by way of qualified institutional placement (QIP) or other permissible mode.
For monetisation of hospitality assets, the board has formed a sub-committee to oversee and structure the process. Representational Image: Pixabay