Prestige Estates Subsidiary Withdraws IPO Plan

Date: September 25, 2026

Prestige Hospitality Ventures Limited (PHVL), a subsidiary of Prestige Estates Projects Limited, has withdrawn its Draft Red Herring Prospectus (DRHP) dated April 24, 2025 that was filed with SEBI, National Stock Exchange of India Limited, and BSE Limited.
The withdrawal decision was made by PHVL's board of directors on September 25, 2026 due to "strategic considerations and uncertain market conditions."
Formal communication of the withdrawal was made to the book running lead managers to the Offer on September 25, 2026.
The book running lead managers issued a formal withdrawal letter to SEBI dated September 25, 2026.
PHVL may consider filing a fresh draft red herring prospectus with SEBI in the future for an initial public offering of its equity shares, subject to suitable market conditions, receipt of requisite approvals, and other considerations.
The future IPO would be conducted in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.