Prestige Hotel Ventures Files DRHP with SEBI for ₹2,700 Crore IPO
Prestige Hotel Ventures Limited, a key player in India’s luxury and upscale hospitality sector, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth ₹2,700 crore.
According to the filing (link), the public issue consists of a fresh issue of equity shares aggregating up to ₹1,700 crore and an offer for sale of shares worth ₹1,000 crore by its promoter, Prestige Estates Projects Limited.
Proceeds from the fresh issue will be primarily used to repay or pre-pay borrowings of the company and its subsidiaries—Sai Chakra Hotels Pvt. Ltd. and Northland Holding Company Pvt. Ltd.—with ₹724.03 crore allocated for investments in these entities and ₹397.25 crore set aside for direct debt reduction. Remaining funds will support inorganic growth, acquisitions, strategic initiatives, and general corporate purposes.
A part of the Prestige Group, the company focuses on luxury, upper upscale, and upper midscale hospitality assets catering to both business and leisure travelers. As of December 31, 2024, Prestige Hotel Ventures operates seven properties with 1,445 keys, and holds a development pipeline of over 2,500 additional keys across South India, making it one of the region’s largest private hotel asset owners by key count.
The portfolio spans metro cities including Bengaluru, Delhi-NCR, Mumbai, Goa, Hyderabad, and Chennai, with assets located near airports, business hubs, and tourist destinations. The company partners with marquee global hospitality brands such as Marriott International (including JW Marriott, St. Regis, W Hotels), Hilton’s Conrad, and Banyan Group’s Angsana Resorts.
Financially, the company reported a revenue of ₹662.68 crore from hospitality services for the nine months ended December 31, 2024, compared to ₹560.34 crore in the corresponding period last year. Annual revenue grew at a CAGR of over 103% between FY22 and FY24.
JM Financial, CLSA India, J.P. Morgan India, and Kotak Mahindra Capital are acting as the book-running lead managers for the IPO.
