Latest news with #PrestigeHospitalityVentures
Time of India
07-08-2025
- Business
- Time of India
Prestige Hospitality Ventures get Sebi's nod for IPO
NEW DELHI: As many as five companies, including Prestige Hospitality Ventures and Anand Rathi Share and Stock Brokers, have received Sebi 's go ahead to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Wednesday. Others that received regulatory clearance are SSF Plastics India, Gujarat Kidney and Super Speciality, and EPack Prefab Technologies. These companies, which filed their preliminary IPO papers between January and April, obtained Sebi's observations during the week, as per the update. In Sebi's parlance, receiving observations is equivalent to getting the go ahead to proceed with a public issue. Prestige Hospitality Ventures, an arm of realty firm Prestige Estates Projects , is aiming to raise Rs 2,700 crore through its IPO, comprising a fresh issue of equity shares valued at Rs 1,700 crore, and an offer-for-sale (OFS) of equity shares worth Rs 1,000 crore, according to the draft red herring prospectus (DRHP). The OFS comprises equity shares by promoter Prestige Estates Projects Ltd. The proposed IPO of Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers, is entirely a fresh issue of shares of up to Rs 745 crore. Proceeds of the IPO to the tune of Rs 550 crore will be used to fund the company's long-term working capital requirements and general corporate purposes. Further, SSF Plastics India's Rs 550 crore IPO comprises a fresh issue of equity shares worth Rs 300 crore and an OFS of Rs 250 crore by promoters and promoter group entities. Proceeds from the fresh issue will be utilised for payment of debt, funding capital expenditure requirements for purchase of plant and machinery and for general corporate purposes. EPack Prefab Technologies' IPO comprises fresh issues of shares worth Rs 300 crore and an Offer For Sale (OFS) of 1 crore shares by promoters. The company will use the funds for setting up a new manufacturing facility at Ghiloth Industrial Area in Alwar, Rajasthan, expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh, payment of debt and for general corporate purposes. Healthcare company Gujarat Kidney and Super Speciality's maiden public issue is entirely a fresh issue of equity shares of up to 2.2 crore equity shares. Proceeds of the IPO will be used for proposed acquisition of Parekhs Hospital in Ahmedabad, part-payment of purchase consideration for the already acquired Ashwini Medical Centre, setting up a new hospital in Vadodara, and buying robotics equipment for the hospital in Vadodara. Additionally, proceeds will be used for debt repayment, funding inorganic growth through unidentified acquisitions & general corporate purposes.
New Indian Express
06-08-2025
- Business
- New Indian Express
Bengaluru-based Prestige Hospitality gets Sebi nod for Rs 2,700-crore IPO
MUMBAI: Prestige Hospitality Ventures, which develops and operates luxury, upscale and upper midscale hospitality assets, has received Sebi approval for a Rs 2,700 crore initial public offering. The IPO comprises a fresh issue of shares of Rs 5 each worth Rs 1,700 crore, and an offer for sale aggregating up to Rs 1,000 crore, by the promoters Prestige Estates Projects. Prestige Hospitality proposes to utilise Rs 1,121.3 crore from the fresh issue towards repayment of Rs 397.3 crore availed by the company and its subsidiaries -- Sai Chakra Hotels and Northland Holding Company -- while Rs 724.1 crore will be invested back into these subsidiaries. The company also proposes to utilise a portion of the fund towards pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Prestige Hospitality Ventures is a part of the Bengaluru-based Prestige Group, promoted by Prestige Estates Projects which has 38 years of experience in real estate development.
Time of India
06-08-2025
- Business
- Time of India
Sebi clears 5 IPOs, including Anand Rathi Share Brokers, Prestige Hospitality
Capital markets regulator Sebi has given its nod to five initial public offerings (IPOs) this week, clearing the way for companies across diverse sectors to tap public markets. The list includes Anand Rathi Share and Stock Brokers, Prestige Hospitality Ventures, and Gujarat Kidney and Super Speciality Hospital , among others. These firms received observation letters from Sebi between July 29 and August 1, 2025, a procedural green light that allows them to proceed with their proposed share sales. Among the notable names, Anand Rathi Share and Stock Brokers, part of the well-known Anand Rathi financial services group, plans to launch a fresh issue. The company plans to raise Rs 750 crore through the IPO. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The proceeds from the fresh issue to the extent of Rs 550 crore will be used to fund its long-term working capital requirements of the company and general corporate purposes. Prestige Hospitality Ventures also secured Sebi's go-ahead for a fresh issue. The proposed public issue comprises a fresh issue of equity shares aggregating up to Rs 1,700 crore and an OFS of shares worth up to Rs 1,000 crore by the parent company. Another healthcare entrant, Gujarat Kidney and Super Speciality, has received approval for its fresh issue. The company has filed for an IPO consisting of a fresh issue of 2.2 crore shares. Live Events The hospital chain aims to allocate Rs 77 crore towards acquiring Parekhs Hospital in Ahmedabad, Rs 12.4 crore for a partially completed purchase of Ashwini Medical Centre, and Rs 30.2 crore for setting up a new hospital in Vadodara. Additionally, Rs 7.3 crore will be used for robotic equipment procurement, and Rs 1.5 crore will go toward debt repayment and potential acquisitions. Sebi also cleared IPOs of Epack Prefab Technologies and SSF Plastics India. EPack Prefab makes thermoplastics for industrial use. The latest approvals come amid a steady uptick in IPO activity this year, with both institutional and retail participation remaining robust. With market sentiment supportive and several companies lining up to go public before the festive season, primary markets are expected to stay active through the second half of FY26.
Economic Times
06-08-2025
- Business
- Economic Times
Sebi clears 5 IPOs, including Anand Rathi Share Brokers, Prestige Hospitality
Capital markets regulator Sebi has given its nod to five initial public offerings (IPOs) this week, clearing the way for companies across diverse sectors to tap public markets. The list includes Anand Rathi Share and Stock Brokers, Prestige Hospitality Ventures, and Gujarat Kidney and Super Speciality Hospital, among others. These firms received observation letters from Sebi between July 29 and August 1, 2025, a procedural green light that allows them to proceed with their proposed share sales. ADVERTISEMENT Among the notable names, Anand Rathi Share and Stock Brokers, part of the well-known Anand Rathi financial services group, plans to launch a fresh issue. The company plans to raise Rs 750 crore through the IPO. The proceeds from the fresh issue to the extent of Rs 550 crore will be used to fund its long-term working capital requirements of the company and general corporate purposes. Prestige Hospitality Ventures also secured Sebi's go-ahead for a fresh issue. The proposed public issue comprises a fresh issue of equity shares aggregating up to Rs 1,700 crore and an OFS of shares worth up to Rs 1,000 crore by the parent healthcare entrant, Gujarat Kidney and Super Speciality, has received approval for its fresh issue. The company has filed for an IPO consisting of a fresh issue of 2.2 crore hospital chain aims to allocate Rs 77 crore towards acquiring Parekhs Hospital in Ahmedabad, Rs 12.4 crore for a partially completed purchase of Ashwini Medical Centre, and Rs 30.2 crore for setting up a new hospital in Vadodara. Additionally, Rs 7.3 crore will be used for robotic equipment procurement, and Rs 1.5 crore will go toward debt repayment and potential acquisitions. ADVERTISEMENT Sebi also cleared IPOs of Epack Prefab Technologies and SSF Plastics India. EPack Prefab makes thermoplastics for industrial use. The latest approvals come amid a steady uptick in IPO activity this year, with both institutional and retail participation remaining robust. With market sentiment supportive and several companies lining up to go public before the festive season, primary markets are expected to stay active through the second half of FY26. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
05-08-2025
- Business
- Time of India
Prestige Estates Projects' net profit rises 1.47% in Q1 FY26
NEW DELHI: Prestige Estates Projects reported a growth of 1.47 per cent in its net consolidated profit during the quarter ended June 30, 2025. Its profit after tax stood at ₹311.50 crore in Q1 FY26 as against ₹307 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹2,468.70 crore in Q1 FY26, a growth of 21.94 per cent from ₹2,024.50 crore it recorded in the similar quarter last year. In April 2025, Prestige Hospitality Ventures (PHVL), a wholly-owned subsidiary of the company, has filed draft red herring prospectus (DRHP) with securities and exchange board of India (SEBI) for proposed initial public offering (IPO), comprising of an offer for sale of such number of equity shares aggregating up to ₹10,000 million and fresh issue of equity shares aggregating up to ₹17,000 million.
