Transaction Details and Key Quantitative Figures
The Company, along with Prestige Hospitality Ventures Limited (PHVL) and CPP Investment Board Private Holdings (4) Inc. (CPPIB), has consummated the first tranche of the Proposed Transaction. The transaction involves two distinct components:
- Secondary Acquisition of Equity Shares: CPPIB acquired 10% of PHVL's shareholding by purchasing equity shares from Prestige Estates Projects Limited. The total consideration for this secondary transaction was ₹950,00,00,000 (Indian Rupees Nine Hundred and Fifty Crores).
- Primary Subscription of CCPS: CPPIB acquired a 5.79% stake in PHVL through a primary subscription of Series A Compulsorily Convertible Preference Shares (CCPS). The total consideration for this primary issuance was ₹550,00,00,000 (Indian Rupees Five Hundred and Fifty Crores).
The combined investment from CPPIB in this first tranche amounts to ₹1,500 crores.
Context and Background
The disclosure refers to earlier announcements made by the company on August 10, 2026, and September 29, 2026, regarding the execution of a binding framework agreement and transaction documents for this investment. The transaction also received approval from the Competition Commission of India (CCI).
Forward-Looking Statement
The company states that the remaining tranches of the Proposed Transaction, as contemplated in the earlier announcements, are yet to be consummated. The company will provide further intimation upon the completion of those subsequent tranches.
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