Prestige Estates in talks with PE firms to raise $300-M through stake sale: report

Bengaluru-based Prestige Estates Projects is putting its plans for an initial public offering (IPO) of its hospitality unit, Prestige Hospitality Ventures, on hold. The developer is exploring a minority stake sale to private equity investors and has initiated talks to raise about $300-M.Founded as a unit of the real estate firm Prestige Estates Projects, Prestige Hospitality operates a portfolio of properties in partnership with brands such as Marriott International, Hilton Worldwide Holdings, and Banyan Group.