Prestige Estates Projects Ltd is set to launch an initial public offering (IPO) through its subsidiary, Prestige Hospitality Ventures Ltd (PHVL), aiming to raise up to Rs. 2,700 crore. The company has submitted the preliminary documents to the Securities and Exchange Board of India (SEBI) for approval. The IPO will include a mix of a fresh issue of equity shares and an offer for sale, marking a significant move in the real estate and hospitality sectors. The funds will help boost PHVL’s presence and operations in India’s competitive hospitality market.