Prestige Estates raises Rs 5,000 crore by selling equity shares via QIP

Quick Summary:

In a regulatory filing on Wednesday, Prestige Estates informed that a fundraising committee of the board approved the allocation of 2,98,68,578 equity shares at an issue price of Rs 1,674 apiece to eligible institutional investors.

In July, the company had taken approval of its shareholders to raise capital by way of public or private offerings including through a QIP to eligible investors through an issuance of equity shares or other eligible securities for an amount not exceeding Rs 5,000 crore.

Realty firm Prestige Estates Projects Ltd has raised Rs 5,000 crore by selling equity shares to institutional investors through private placement.

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Category: BusinessFinance

Markets: India

Topics: Equity shares Prestige Estates Investors Equity investors QIP route

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 07:42:13 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 526 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 22371248

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