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The Economic Times
The Economic Times

Prestige Group drops Rs 2,700 cr IPO plan for hospitality arm, cites bad market conditions

IPO Prestige Estates SEBI CPPIB

Realty firm Prestige Estates has shelved plans to launch an initial public offering of its hotel business because of uncertain market conditions and other factors.

In April last year, Prestige Estates Projects Ltd's subsidiary Prestige Hospitality Ventures Ltd (PHVL) filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to launch an IPO.

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