The brief
- CPP Investments invested ₹3,000 crore, or C$441 million, in Prestige Estates’ hospitality platform
- The investment expands Prestige Estates’ hospitality platform, directly affecting its Indian real estate exposure
- Buy Prestige Estates Projects; target of Rs 1830: Motilal Oswal
- Prestige Estates Shares May Rally 24%, Says Motilal Oswal On Strong Launch Pipeline, Business Development Momentum
- 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
- Stocks to Watch Today: Fortis Healthcare, Unichem Labs, Clean Max Enviro, Prestige Estates, Signature Global, Aequs, Robokidz Eduventures in focus on 28 September
Prestige Estates’ hospitality business
Prestige Estates withdrew draft papers for a planned ₹2,700 crore hospitality IPO, citing strategic considerations and uncertain market conditions. CPP Investments later invested ₹3,000 crore, or C$441 million, in the hospitality platform.
Tuesday, 29 September
- CPP Investments makes India hospitality debut