Prestige Hospitality Ventures IPO was proposed as the public issue of Prestige Hospitality Ventures Limited, the hospitality arm of Prestige Estates Projects Limited. The company had filed its Draft Red Herring Prospectus with SEBI in April 2025 for an IPO of up to ₹2,700 crore, comprising a fresh issue of up to ₹1,700 crore and an Offer for Sale of up to ₹1,000 crore by Prestige Estates Projects Limited. SEBI subsequently cleared the proposed issue.
The proposed IPO was designed to help Prestige Hospitality Ventures reduce debt and provide capital for acquisitions, strategic initiatives and general corporate purposes. According to the DRHP, ₹1,121.28 crore of the net proceeds was proposed for repayment or prepayment of certain borrowings of the company and its material subsidiaries, while additional funds were proposed for unidentified acquisitions, strategic initiatives and general corporate purposes.
However, the IPO status has changed. On September 26, 2026, Prestige Estates Projects withdrew the ₹2,700 crore IPO plan for its hospitality business, citing market conditions and other factors. The company indicated that it could reconsider an IPO in the future. On September 29, 2026, CPP Investments announced a ₹3,000 crore investment in Prestige Hospitality Ventures for approximately a 27% stake, with the majority of the capital intended to support the platform’s expansion.
Therefore, the IPO details below distinguish between the previously proposed DRHP terms and the current status. Price band, IPO dates, lot size, subscription and allotment details are not applicable to a currently active IPO.
Table of Contents
Prestige Hospitality Ventures IPO Details
| Information | Details |
|---|---|
| IPO Name | Prestige Hospitality Ventures IPO |
| Company Name | Prestige Hospitality Ventures Limited |
| Promoter | Prestige Estates Projects Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Current IPO Status | Withdrawn |
| Face Value | ₹5 Per Equity Share |
| Proposed Price Band | |
| Proposed Issue Size | ₹2,700 Crore |
| Proposed Fresh Issue | ₹1,700 Crore |
| Proposed Offer for Sale | ₹1,000 Crore |
| IPO Open Date | |
| IPO Close Date | |
| Anchor Investor Bidding | |
| Basis of Allotment | |
| Refund Initiation | |
| Shares Credited to Demat Account | |
| Listing Date | |
| Proposed Listing Exchange | BSE & NSE |
| Lot Size | |
| Registrar | KFin Technologies Limited |
| Book Running Lead Managers | JM Financial Limited, CLSA India Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited |
The above issue structure is based on the April 2025 DRHP. The proposed ₹2,700 crore IPO comprised a ₹1,700 crore fresh issue and a ₹1,000 crore OFS by Prestige Estates Projects Limited. The company subsequently withdrew the IPO plan in September 2026.
Prestige Hospitality Ventures IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | |
| IPO Opening Date | |
| IPO Closing Date | |
| Basis of Allotment | |
| Refund Initiation | |
| Shares Credited to Demat Account | |
| Listing Date |
No public issue bidding dates were announced because the proposed IPO was withdrawn before launch. The April 2025 DRHP had not specified final bidding dates.
Prestige Hospitality Ventures IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Employee Category | To be updated |
The final reservation structure was not applicable because the proposed IPO did not proceed to the public bidding stage.
Prestige Hospitality Ventures IPO Lot Size
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | ||
| Retail Maximum | ||
| S-HNI Minimum | ||
| S-HNI Maximum | ||
| B-HNI Minimum |
The minimum bid lot and application amount were not announced because the price band and final IPO timetable were never launched.
About Prestige Hospitality Ventures Limited
Prestige Hospitality Ventures Limited is the hospitality platform of Prestige Group and focuses on owning and developing luxury, upper-upscale and upper-midscale hospitality assets in India for business and leisure travellers.
The company was originally registered as Prestige Hospitality Ventures in February 2017 and was subsequently incorporated as a public limited company in December 2017. Its promoter is Prestige Estates Projects Limited. The company operates hospitality assets across major Indian markets including Bengaluru, Delhi-NCR, Mumbai, Goa, Hyderabad and Chennai.
As of December 31, 2024, the company had seven operating hospitality assets with 1,445 keys, including 1,255 operational keys and 190 keys in a property undergoing renovation. Its development pipeline included three ongoing hospitality assets with 951 expected keys and nine upcoming hospitality assets with 1,558 expected keys.
The company’s portfolio is associated with international hospitality brands including Marriott International, Hilton Worldwide and Banyan Group. Its brand relationships include St. Regis, JW Marriott, W Hotels, Sheraton, Aloft, Conrad and Angsana, among others.
Business Operations
Prestige Hospitality Ventures operates across the ownership, development and management of hospitality assets in India.
- Luxury Hotels – The company develops and owns premium hospitality assets positioned for business and leisure travellers. Its portfolio includes properties operating under internationally recognised hotel brands.
- Upper-Upscale Hospitality – The company also operates upper-upscale hospitality assets in major business and leisure destinations, targeting domestic and international travellers.
- Upper-Midscale Hotels – Its portfolio includes upper-midscale properties designed to serve a wider customer base across business and leisure travel segments.
- Food and Beverage – The company’s hospitality assets include restaurants, dining facilities and food-and-beverage offerings serving hotel guests as well as other customers.
- Meetings and Events – The hospitality portfolio includes facilities for corporate meetings, conferences, weddings and social gatherings. These services provide additional revenue streams beyond room accommodation.
- Golf and Leisure – The group has developed hospitality assets combining accommodation with leisure experiences. JW Marriott Golfshire is one example of the group’s resort-oriented hospitality portfolio.
- Hospitality Development Pipeline – The company has a significant development pipeline. As of December 31, 2024, three ongoing projects were expected to add 951 keys, while nine upcoming hospitality assets represented another 1,558 expected keys.
Industry Overview
India’s hospitality industry is supported by domestic travel, business tourism, leisure travel, weddings, conferences, international tourism and rising consumer spending on travel experiences.
Hotel demand is concentrated in major metropolitan cities, business centres, airports, tourist destinations and emerging leisure markets. Increasing domestic travel and the development of premium hospitality infrastructure have also supported the expansion of branded hotels.
The sector is highly dependent on occupancy levels, average room rates, revenue per available room, travel demand and economic activity. Hotel operators also face competition from established chains, independent hotels, serviced apartments and alternative accommodation platforms.
Premium hospitality businesses can benefit from increasing demand for branded accommodation and experiences, while development pipelines provide opportunities to add rooms and expand geographic presence.
Business Strategy
Prestige Hospitality Ventures focuses on building a portfolio of premium hospitality assets across major Indian business and leisure destinations.
The company works with international hotel operators and brands to operate properties across different segments. Its relationships with Marriott International, Hilton Worldwide and Banyan Group allow the company to offer internationally recognised hospitality brands across its portfolio.
The company has also maintained a development pipeline that can increase its room inventory over time. The proposed IPO was intended partly to deleverage the hospitality vertical and create additional financial capacity for growth and strategic acquisitions.
Following the withdrawal of the IPO, Prestige Hospitality Ventures has received a ₹3,000 crore investment from CPP Investments. CPP Investments announced that it would acquire approximately 27% of PHVL, with the majority of the investment intended to support the platform’s continued expansion.
Prestige Hospitality Ventures IPO Financial Information
A company’s financial performance provides insights into revenue growth, profitability, operating efficiency and financial strength. The financial information below is based on the company’s disclosed financial data and the previously filed IPO documents.
Prestige Hospitality Ventures Financial Summary
| Particulars | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Revenue from Operations | ₹320.86 Crore | ₹1,049.26 Crore | ₹1,024.64 Crore |
| Total Income | ₹320.86 Crore | ₹1,049.26 Crore | ₹1,024.64 Crore |
| EBITDA | ₹75.55 Crore | ₹508.35 Crore | ₹509.56 Crore |
| Profit Before Tax (PBT) | -₹104.18 Crore | ₹201.87 Crore | ₹238.90 Crore |
| Profit After Tax (PAT) | -₹102.43 Crore | ₹181.47 Crore | ₹183.78 Crore |
| Net Worth | |||
| Total Borrowings |
The company’s total income increased from ₹320.86 crore in FY2022 to ₹1,024.64 crore in FY2024. Profit before tax increased from a loss of ₹104.18 crore in FY2022 to a profit of ₹238.90 crore in FY2024.
Prestige Hospitality Ventures IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess profitability, operating efficiency, financial strength and capital utilisation.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | To be updated |
| Return on Capital Employed (ROCE) | To be updated |
| Return on Net Worth (RONW) | 21.35%* |
| EBITDA Margin | 49.71%* |
| PAT Margin | To be updated |
| Debt-to-Equity Ratio | To be updated |
| Earnings Per Share (EPS) | ₹6.24* |
| Net Asset Value (NAV) Per Share | ₹29.21* |
| Price to Earnings (P/E) |
*Values based on FY2024 figures reported by IPO information sources based on the company’s proposed IPO disclosures.
Objects of the Prestige Hospitality Ventures IPO
The proposed IPO had three principal purposes.
Repayment and Prepayment of Borrowings –
- The company proposed to use approximately ₹1,121.28 crore of net proceeds for repayment or prepayment of certain outstanding borrowings and accrued interest of the company and its material subsidiaries.
- Of this amount, approximately ₹397.25 crore was proposed for borrowings of Prestige Hospitality Ventures and approximately ₹724.03 crore was proposed to be invested in material subsidiaries for repayment or prepayment of their borrowings.
Inorganic Growth and Strategic Initiatives – The company proposed using part of the net proceeds for unidentified acquisitions and other strategic initiatives.
General Corporate Purposes – A portion of the proceeds was also proposed to be used for general corporate purposes, subject to the limits and conditions specified in the DRHP.
Prestige Hospitality Ventures IPO Listing Performance
The proposed IPO did not proceed to listing, so there is no IPO issue price, listing price or listing gain.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | |
| Issue Price | |
| Listing Price | |
| Listing Gain | |
| Listing Gain (%) |
The DRHP proposed listing on BSE and NSE, but the IPO was subsequently withdrawn before listing.
Prestige Hospitality Ventures IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period.
Prestige Hospitality Ventures IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | |
| Non-Institutional Investors (NII) | |
| Retail Individual Investors (RII) | |
| Employee Category | |
| Total Subscription |
No subscription data is available because the proposed IPO was withdrawn before the public bidding process.
Prestige Hospitality Ventures IPO Review
Prestige Hospitality Ventures operates a premium hospitality platform within the broader Prestige Group, with a portfolio covering luxury, upper-upscale and upper-midscale hotel assets. As of December 31, 2024, the company had seven operating hospitality assets with 1,445 keys, together with three ongoing projects and nine upcoming properties.
The business recorded total income of approximately ₹1,024.64 crore in FY2024, compared with ₹320.86 crore in FY2022. Its FY2024 profit before tax was approximately ₹238.90 crore, compared with a loss in FY2022. Revenue from hospitality services increased from ₹191.72 crore in FY2022 to ₹795.70 crore in FY2024, representing a reported CAGR of approximately 103.73%.
The proposed IPO was structured at ₹2,700 crore, consisting of ₹1,700 crore of fresh issue and ₹1,000 crore of OFS by Prestige Estates Projects. The fresh-issue proceeds were proposed to be used substantially for debt repayment, with additional amounts earmarked for acquisitions, strategic initiatives and general corporate purposes.
The IPO plan, however, was withdrawn in September 2026. Prestige Estates said it may reconsider the IPO in the future depending on market conditions and required approvals. On September 29, 2026, CPP Investments announced a ₹3,000 crore investment for approximately 27% of PHVL, creating a different capital route for the hospitality platform’s expansion.
The future public-listing structure, if the company revisits an IPO, could therefore differ from the April 2025 DRHP. Any future price band, issue size, shareholding structure, use of proceeds and valuation would need to be assessed from fresh regulatory filings.
Prestige Hospitality Ventures IPO Strengths
- Portfolio focused on luxury, upper-upscale and upper-midscale hospitality assets.
- Seven operating hospitality assets with 1,445 keys as of December 31, 2024.
- Three ongoing hospitality assets with 951 expected keys.
- Nine upcoming hospitality assets with 1,558 expected keys.
- Presence across Bengaluru, Delhi-NCR, Mumbai, Goa, Hyderabad and Chennai.
- Relationships with globally recognised hotel operators and brands including Marriott, Hilton and Banyan Group.
- Revenue from hospitality services increased from ₹191.72 crore in FY2022 to ₹795.70 crore in FY2024.
- Promoted by Prestige Estates Projects Limited, part of the established Prestige Group.
- Proposed IPO proceeds were designed partly to reduce debt and support future strategic initiatives.
- CPP Investments announced a ₹3,000 crore investment in September 2026 for approximately 27% of PHVL.
Prestige Hospitality Ventures IPO Risk Factors
- Hospitality demand can be affected by economic cycles and changes in travel patterns.
- Hotel businesses are exposed to occupancy, room rates and seasonal fluctuations.
- Significant capital expenditure is required to develop and maintain hospitality assets.
- The company operates in a competitive hospitality market.
- Hotel operations depend on third-party international hospitality brands and management or franchise arrangements.
- Development projects may face construction delays, cost overruns and regulatory approvals.
- Hospitality assets are exposed to changes in consumer preferences and travel demand.
- The proposed IPO was withdrawn, so the previously disclosed IPO terms are no longer current issue terms.
- Future IPO terms, if the company revisits the public-market route, may differ from the 2025 DRHP.
The company continues to have exposure to borrowings and financing requirements associated with its hospitality portfolio.
Prestige Hospitality Ventures IPO Promoters
Prestige Estates Projects Limited is the promoter of Prestige Hospitality Ventures Limited.
Prestige Estates Projects is the real-estate development company behind the Prestige Group. The group operates across residential, commercial, hospitality and retail segments.
The April 2025 DRHP identified Prestige Estates Projects Limited as the promoter of Prestige Hospitality Ventures.
Prestige Hospitality Ventures IPO Promoters Details
| Promoter | Details |
|---|---|
| Prestige Estates Projects Limited | Promoter |
The final post-IPO shareholding structure under the proposed 2025 IPO is no longer applicable because the IPO was withdrawn. CPP Investments announced an approximately 27% stake in PHVL as part of its September 2026 investment.
Prestige Hospitality Ventures IPO Management Team
The company is managed by a combination of promoter representatives, independent directors and professional executives.
Management Team
| Name | Designation |
|---|---|
| Irfan Razack | Chairman and Non-Executive Director |
| Nawabzada Omer Bin Jung | Joint Managing Director |
| Mohmed Zaid Sadiq | Joint Managing Director |
| Ajoy Mehta | Independent Director |
| Mohankumar Parameshwara Krishna | Independent Director |
| Perpetua Kumar | Independent Director |
| Dilip Puri | Independent Director |
| Suresh Singaravelu | Chief Executive Officer |
| Shamik Rudra | Chief Financial Officer |
| Lingraj Patra | Company Secretary & Compliance Officer |
| Sharad Puri | Chief Operating Officer |
These names and designations are listed on the company’s investor-relations materials.
Prestige Hospitality Ventures IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting shares to successful applicants, initiating refunds and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | KFin Technologies |
| IPO Allotment Status | Not applicable |
| Email ID | To be updated |
| Contact Number | To be updated |
KFin Technologies Limited was identified as the registrar for the proposed IPO in IPO disclosures.
Prestige Hospitality Ventures IPO Lead Manager Details
The Book Running Lead Managers were responsible for managing the proposed IPO process and coordinating the issue with the company and regulatory authorities.
| Particular | Details |
|---|---|
| Lead Managers | JM Financial Limited |
| CLSA India Private Limited | |
| J.P. Morgan India Private Limited | |
| Kotak Mahindra Capital Company Limited |
These four institutions were identified as the sole book-running lead managers in the company’s DRHP.
Prestige Hospitality Ventures Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Prestige Hospitality Ventures Limited |
| Registered Office | Prestige Falcon Tower, No. 19 Brunton Road, Bengaluru – 560 025, Karnataka |
| Corporate Office | Prestige Falcon Tower, No. 19 Brunton Road, Bengaluru – 560 025, Karnataka |
| Website | www.prestigehospitalityventures.com |
| Email ID | [email protected] |
| Telephone | +91 80 25591080 |
The company’s April 2025 DRHP lists Prestige Falcon Tower, No. 19 Brunton Road, Bengaluru as the registered and corporate office and provides [email protected] as the investor contact email.
How to Check Prestige Hospitality Ventures IPO Allotment Status
The proposed IPO did not reach the public allotment stage because the issue was withdrawn.
Through IPO Registrar
There is currently no IPO allotment result to check because the proposed issue was withdrawn before public bidding.
If the company launches a new IPO in the future, investors would be able to check the allotment through the registrar appointed for that new issue.
Through BSE
A future IPO allotment can be checked through the BSE IPO platform after the issue is launched and the basis of allotment is finalised.
Prestige Hospitality Ventures IPO Conclusion
Prestige Hospitality Ventures is the hospitality platform of Prestige Group, with a portfolio spanning luxury, upper-upscale and upper-midscale hospitality assets. As of December 31, 2024, its portfolio comprised seven operating assets with 1,445 keys, three ongoing projects with 951 expected keys and nine upcoming projects with 1,558 expected keys.
The company had proposed a ₹2,700 crore IPO in its April 2025 DRHP, consisting of a ₹1,700 crore fresh issue and a ₹1,000 crore OFS by Prestige Estates Projects. The proposed fresh-issue proceeds were primarily intended for debt repayment, along with funds for acquisitions, strategic initiatives and general corporate purposes.
The IPO was subsequently withdrawn in September 2026. Prestige Estates stated that it could reconsider the public listing in the future depending on market conditions and necessary approvals. Meanwhile, CPP Investments announced a ₹3,000 crore investment in Prestige Hospitality Ventures for approximately 27% of the company, with the majority of the capital intended to support expansion.
Accordingly, the ₹2,700 crore IPO terms described above should be treated as historical proposed terms from the 2025 DRHP, not as the terms of a currently active IPO. Any future IPO would require fresh regulatory filings and updated details.
Prestige Hospitality Ventures IPO FAQs
What is Prestige Hospitality Ventures IPO?
Prestige Hospitality Ventures IPO was the proposed public issue of Prestige Hospitality Ventures Limited, the hospitality platform of Prestige Estates Projects Limited.
What was the issue size of Prestige Hospitality Ventures IPO?
The proposed IPO size was ₹2,700 crore, comprising a fresh issue of up to ₹1,700 crore and an Offer for Sale of up to ₹1,000 crore.
Is Prestige Hospitality Ventures IPO open?
No. The proposed IPO was withdrawn by Prestige Estates Projects in September 2026.
What was the price band of Prestige Hospitality Ventures IPO?
The final price band was not announced because the proposed IPO was withdrawn before the public issue opened.
What was the lot size of Prestige Hospitality Ventures IPO?
The final lot size was not announced.
When was the Prestige Hospitality Ventures IPO expected to open?
The IPO opening date was not announced before the proposed issue was withdrawn.
Who was the registrar for Prestige Hospitality Ventures IPO?
KFin Technologies Limited was identified as the registrar for the proposed IPO.
Who were the lead managers of Prestige Hospitality Ventures IPO?
JM Financial Limited, CLSA India Private Limited, J.P. Morgan India Private Limited and Kotak Mahindra Capital Company Limited were the proposed book-running lead managers.
What does Prestige Hospitality Ventures do?
Prestige Hospitality Ventures owns and develops luxury, upper-upscale and upper-midscale hospitality assets in India for business and leisure travellers.
How many hotel keys does Prestige Hospitality Ventures have?
As of December 31, 2024, the company had seven operating hospitality assets with 1,445 keys, including 1,255 operational keys and 190 keys under renovation. It also had three ongoing and nine upcoming hospitality assets in its pipeline.
Who is the promoter of Prestige Hospitality Ventures?
Prestige Estates Projects Limited is the promoter of Prestige Hospitality Ventures Limited.
Why was the Prestige Hospitality Ventures IPO withdrawn?
Prestige Estates Projects withdrew the ₹2,700 crore IPO plan in September 2026, citing uncertain market conditions and other factors. The company indicated that it may consider an IPO again in the future.
What happened to Prestige Hospitality Ventures after the IPO withdrawal?
On September 29, 2026, CPP Investments announced a ₹3,000 crore investment in Prestige Hospitality Ventures and said it would acquire approximately 27% of PHVL. The majority of the capital is intended to support the hospitality platform’s continued expansion.
