Prestige Hospitality raises ₹3,000 cr from CPPIB
pre-market1 source ↓written by the desknot a recommendation
- secured
- ₹3,000 cr
- acquiring
- 27% stake
Prestige Estates' hospitality arm, PHVL, secured ₹3,000 cr from the Canada Pension Plan Investment Board (CPPIB), acquiring a 27% stake. This investment will bolster PHVL's expansion of luxury hotels across India and marks CPPIB's first direct foray into the Indian hospitality sector. The move follows Prestige's earlier decision to shelve an IPO for PHVL.
Not investment advice. For informational purposes only.