Fibe Aims for ₹1,500 Crore IPO, Eyes Billion-Dollar Valuation by 2026...
08 Aug, 2025
Prestige Hospitality Ventures is a wholly owned subsidiary of Prestige Estates Projects Ltd and houses all of the group's hospitality assets and projects. The IPO proceeds will primarily be used to develop new hospitality properties and reduce existing debt.
The company is reportedly working with four investment banks, including Kotak Mahindra Capital and JM Financial, to manage the issue.
Expanding Hospitality PortfolioPrestige Group’s hospitality portfolio includes several high-end and well-known properties. In Bengaluru, these include:
JW Marriott Prestige Golfshire
Sheraton Grand Hotel & Convention Centre, Whitefield
Conrad Bengaluru
Moxy Bengaluru Airport Hotel
Mulberry Shades, Devanahalli
Angsana Oasis Resort & Spa, Yelahanka
Twenty Four, a business hotel at Prestige Tech Park
Outside Bengaluru, the company owns The Artiste, a resort located in Kochi.
Market ContextThe IPO comes at a time when real estate and hospitality sectors are being viewed as relatively stable investment options amid ongoing market volatility. The sectors have experienced growing demand driven by increasing domestic travel and tourism.
Hospitality IPO MomentumPrestige’s IPO follows a string of public listings in the Indian hospitality space:
The Leela, owned by Brookfield, filed for a ₹5,000-crore IPO in September 2024.
Brigade Hotel Ventures, the hospitality unit of Brigade Enterprises, has also filed for an IPO.
Ventive, backed by Blackstone and Panchshil, raised ₹1,600 crore in December 2024 and is trading above its issue price.
Juniper Hotels, affiliated with Hyatt, raised ₹1,800 crore in February 2024.
Apeejay Surrendra Park Hotels raised ₹920 crore in February 2024.
SAMHI Hotels Ltd raised ₹1,370 crore in September 2023 and is currently trading well above its IPO price.
With this IPO, Prestige Group seeks to strengthen its position in India’s fast-growing premium hospitality sector.
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