PRESTIGE

Buzzing Stocks: Prestige Estates falls as subsidiary withdraws DRHP; Zydus Life hits 52-week high on zero observations

Prestige Estates shares in focus after hotel arm shelves ₹2,700 crore IPO plan

• Prestige Hospitality Ventures shelved its planned **₹2,700 crore IPO**
• The subsidiary had filed a DRHP with Sebi in April 2025
• Prestige Estates loses a planned fundraising route; its shares may react to the IPO decision

Prestige Estates withdraws ₹2,700 crore IPO plan for its hospitality business

• Prestige Estates withdrew the hotel business IPO plan amid uncertain market conditions
• The proposed IPO was aimed at raising ₹2,700 crore
• The withdrawal removes a planned funding route for Prestige Estates’ hospitality business

Prestige Estates issues corporate guarantee of up to ₹750 crore for subsidiary loan

• Prestige Estates guaranteed up to ₹750 crore for a subsidiary’s loan from ICICI Bank
• The guarantee supports Prestige’s Mumbai subsidiary borrowing while adding contingent exposure for Prestige Estates shareholders

Prestige Hospitality Shelves IPO Citing Uncertain Conditions

Prestige launches Bengaluru housing project; two developments expected to generate ₹2,850 crore

• Prestige Parklane spans 11.91 acres in Devanahalli and will comprise 1,788 homes
• The company expects ₹2,850 crore revenue from two Bengaluru housing projects
• The launches support Prestige Estates’ Bengaluru sales pipeline and near-term residential project revenue