Prestige Estate Projects rises on signing definitive agreements with Blackstone
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Prestige Estate Projects is currently trading at Rs. 306.80, up by 3.65 points or 1.20% from its previous closing of Rs. 303.15 on the BSE.
The scrip opened at Rs. 308.20 and has touched a high and low of Rs. 308.20 and Rs. 303.40 respectively. So far 3588 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 331.25 on 03-Mar-2020 and a 52 week low of Rs. 133.85 on 19-May-2020.
Last one week high and low of the scrip stood at Rs. 311.95 and Rs. 290.30 respectively. The current market cap of the company is Rs. 12152.12 crore.
The promoters holding in the company stood at 65.48%, while Institutions and Non-Institutions held 32.39% and 2.13% respectively.
Prestige Estate Projects has signed definitive agreements with global investment firm Blackstone to sell 12 assets/undertakings comprising completed office, retail and hotel properties in the first phase of Rs 9,160 crore deal. In November last year, the company had signed term sheet to sell a large portfolio of completed as well as under-construction office, retail and hotel properties to Blackstone for an enterprise value of Rs 9,160 crore. The company will use the fund to retire its debt and future expansion.
Prestige Estate Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.
