Prestige Hospitality seeks ₹2,700 crore in India's IPO, aiming to expand and reduce debt.

Prestige Hospitality Ventures Ltd (PHVL), a subsidiary of real estate firm Prestige Estates Projects Ltd, has filed documents to launch an IPO in India, aiming to raise up to ₹2,700 crore. The funds will come from a fresh equity issue of ₹1,700 crore and an offer-for-sale of ₹1,000 crore. PHVL operates seven hotels with 1,445 rooms and plans to use the funds for repaying debts, potential acquisitions, and general growth.