Prestige group raises Rs 463 cr via shares sale to institutional investors

New Delhi, Feb 7 () Realty firm Prestige Estates Projects Ltd has raised Rs 462.64 crore through sale of shares to institutional investors.

The fund raising committee of the company's board has approved the allotment of around 1.24 crore equity shares at Rs 372.50 apiece, aggregating to Rs 462.64 crore, the company said in a regulatory filing.

The issue opened on January 30, 2020, and closed on February 4, 2020.

Last month, the company had raised Rs 437 crore through preferential allotment of shares to Singapore sovereign wealth fund GIC.The board had allotted 1,34,41,654 shares of Rs 10 each to GIC affiliate firm on a preferential allotment basis, at a price of Rs 325 per equity share.

Prestige group has reported over two-fold jump in consolidated net profit at Rs 161.8 crore for December quarter as against Rs 58.1 crore in the year-ago period.

Total income from operations also rose sharply to Rs 2,696.3 crore during October-December of 2019-20 from Rs 1,079 crore in the corresponding period of previous fiscal.

Prestige group has completed 250 projects across India. MJH RUJ