Prestige Estates’ fixes IPO price band at Rs 172-183/share

Bangalore-based real estate company, Prestige Estates Projects has fixed it’s initial public offering price band at Rs 172-183/share, sources with direct knowledge said.

The IPO will open on Oct 12 and close on Oct 14. Prestige is set to raise Rs 1200 crores through the public issue. The promoters will offer close to 20% stake in the company via IPO.

The proceeds of the IPO will be utilized in financing projects, financing subsidiaries, repayment of loan and acquisition of land.