The IPO will consist of a fresh issue of equity shares worth ₹1,700 crore and an offer for sale (OFS) of shares worth ₹1,000 crore by its parent company, Prestige Estates Projects Limited. The proceeds from the fresh issue will be used for debt repayment, strategic acquisitions, and general corporate purposes.
As per the draft red herring prospectus (DRHP), the company plans to deploy ₹1,121.28 crore from the net proceeds towards full or partial repayment of loans amounting to ₹397.25 crore and infuse ₹724.03 crore in its subsidiaries — Sai Chakra Hotels and Northland Holding Company. It also aims to pursue inorganic growth through strategic acquisitions.
Prestige Hospitality Ventures owns and develops luxury, upper-upscale, and upper midscale hospitality assets across India catering to both business and leisure travellers. As of December 31, 2024, its portfolio includes seven operational properties with 1,445 keys of which 1,255 operational and 190 under renovation, three ongoing projects with 951 keys, and nine upcoming properties expected to add 1,558 keys. With over 3.5 million sq. ft. of developable hospitality area, it is one of the largest private hotel asset owners in South India.
The company’s properties are located across key metros including Bengaluru, Mumbai, Delhi-NCR, Chennai, Hyderabad, and Goa across extended-stay residences, convention centre hotels, and golf resorts.
Prestige Hospitality has partnerships with global brands, especially Marriott International — including marquee names like St. Regis, JW Marriott, W Hotels, and Edition — and also operates properties under Hilton’s Conrad brand and Banyan Group’s Angsana Resorts & Spa. The company accounts for 9% of the total Marriott-managed hospitality keys in India.Revenue from hospitality services grew significantly from ₹191.7 crore in FY22 to ₹795.7 crore in FY24, reflecting a CAGR of over 100% in the period. For the nine months ended December 2024, revenue stood at ₹662.7 crore, up from ₹560.3 crore in the year-ago period.The IPO will be managed by JM Financial, CLSA India, J.P. Morgan India, and Kotak Mahindra Capital.
Prestige’s move follows a surge of interest in India’s premium hospitality segment, with recent listings such as Brigade Hotel Ventures and Schloss Bangalore (The Leela) hitting the bourses in recent months. Executive Centre India, offering premium hospitality-led flexible workspaces, has also filed for an IPO and is awaiting SEBI’s nod.
The trend reflects rising investor confidence in India’s travel, tourism, and high-end real estate sectors, fuelled by a post-pandemic recovery in domestic travel, growing MICE demand, and a revival in inbound tourism
