Prestige Estate – Will it increase the Prestige of Retail Investors

Prestige Estates launches QIP to raise Rs 5000 crore

1. fixed the floor price of the QIP at ₹1,755.09 per share
   2.The share sale is likely to result in an equity dilution of 7.45% of the pre-issue share capital.
   3.Prestige Estates plans to utilise the proceeds from the share sale for multiple purposes
   4.Repayment or pre-payment in full or in part of some of the company’s borrowings ranks as the top priority for using these proceeds.
   5.The company also intends to use the funds for the acquisition of land or land development rights, investment in subsidiaries and JVs for funding some of the ongoing projects and one upcoming projects which will be undertaken by these units.

Prestige Estates launches QIP to raise up to Rs 5,000 crore – The Economic Times (indiatimes.com)