India's Prestige Estates approves $599 mln fundraise

Prestige Estates Projects

21/06/2024 14:39

BENGALURU, June 21 (Reuters) - Prestige Estates Projects
 PREG.NS  said on Friday it will raise 50 billion rupees ($598.6
million) by issuing shares via qualified institutional
placement.
    The Indian real estate developer's board said it has
approved monetization of its hospitality assets and has formed a
sub-committee to oversee the process. 

($1 = 83.5240 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru; Editing by Shreya
Biswas)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))