Prestige Hospitality Ventures gets Sebi nod for Rs 2,700 crore IPO

Prestige Hospitality Ventures will get Sebi nod for Rs 2,700 crore IPO

Prestige Hospitality Ventures Limited, the hospitality arm of Prestige Group, has secured regulatory approval from the Securities and Exchange Board of India (SEBI) for its proposed ₹2,700 crore preliminary public providing (IPO), according to an official SEBI submitting.

The IPO will include a contemporary issue of fairness shares value ₹1,700 crore and a proposal on the market (OFS) of shares value ₹1,000 crore by its dad or mum firm, Prestige Estates Projects Limited. The proceeds from the contemporary issue can be used for debt compensation, strategic acquisitions, and normal company functions.

As per the draft purple herring prospectus (DRHP), the corporate plans to deploy ₹1,121.28 crore from the web proceeds in the direction of full or partial compensation of loans amounting to ₹397.25 crore and infuse ₹724.03 crore in its subsidiaries — Sai Chakra Hotels and Northland Holding Company. It also goals to pursue inorganic development by strategic acquisitions.

Prestige Hospitality Ventures owns and develops luxurious, upper-upscale, and higher midscale hospitality property across India catering to each enterprise and leisure travellers. As of December 31, 2024, its portfolio contains seven operational properties with 1,445 keys of which 1,255 operational and 190 under renovation, three ongoing initiatives with 951 keys, and 9 upcoming properties anticipated so as to add 1,558 keys. With over 3.5 million sq. ft. of developable hospitality space, it is likely one of the largest non-public resort asset house owners in South India.

The firm’s properties are situated across key metros including Bengaluru, Mumbai, Delhi-NCR, Chennai, Hyderabad, and Goa across extended-stay residences, conference centre lodges, and golf resorts.
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Prestige Hospitality has partnerships with global manufacturers, particularly Marriott International — including marquee names like St. Regis, JW Marriott, W Hotels, and Edition — and also operates properties under Hilton’s Conrad model and Banyan Group’s Angsana Resorts & Spa. The firm accounts for 9% of the full Marriott-managed hospitality keys in India.Revenue from hospitality companies grew considerably from ₹191.7 crore in FY22 to ₹795.7 crore in FY24, reflecting a CAGR of over 100% within the interval. For the 9 months ended December 2024, income stood at ₹662.7 crore, up from ₹560.3 crore within the year-ago interval.The IPO can be managed by JM Financial, CLSA India, J.P. Morgan India, and Kotak Mahindra Capital.

Prestige’s transfer follows a surge of curiosity in India’s premium hospitality phase, with current listings such as Brigade Hotel Ventures and Schloss Bangalore (The Leela) hitting the bourses in current months. Executive Centre India, providing premium hospitality-led versatile workspaces, has also filed for an IPO and is awaiting SEBI’s nod.

The development displays rising investor confidence in India’s journey, tourism, and high-end real property sectors, fuelled by a post-pandemic recovery in home journey, rising MICE demand, and a revival in inbound tourism

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