Prestige Hotel Ventures & Canara Robeco MF File DRHP for IPOs

Mumbai: Bengaluru based Prestige Hotel Ventures, a hospitality asset owner and developer focused on luxury, upper upscale and upper midscale hospitality assets in India has filed its draft red herring prospectus(DRHP) with Securities and Exchange Board of India for an initial public offering. The company is a part of the Prestige Group and promoter, Prestige Estates Projects.

The IPO comprises of a fresh issue of equity shares of face value of ₹5 each aggregating up to ₹ 1700 crore and an offer for sale of equity shares of face value of ₹ 5 each aggregating up to ₹ 1000 crore by Prestige Estates Projects.

The company proposes to utilise from the net proceeds an estimated amount of ₹ 1121.276 crore towards repayment of borrowings by the company and its material subsidiaries.

JM Financial, CLSA India, J.P. Morgan India and Kotak Mahindra Capital Company are the sole book running lead managers to the issue

Canara Robeco Asset Management Company, India’s second oldest asset management company also filed DRHP with Securities and Exchange Board of India for an IPO. Canara Bank and ORIX Corporation Europe N.V are the promoters of Canara Robeco Mutual Fund.

The offer comprises an offer for sale of over 4.98 crore equity shares of face value of ₹10 each, including over 2.59 crore equity Shares by Canara Bank; and over 2.39 crore equity shares by ORIX Corporation Europe N.V.

Canara Robeco Mutual Fund manages 25 schemes comprising 12 equity schemes, 10 debt schemes and three hybrid schemes with a quarterly average AUM of ₹ 1,03,344.27 crore as of March 31, 2025.

SBI Capital Markets, Axis Capital and JM Financial are the book running lead managers to the Canara Robeco public issue.