Prestige Group Board Meeting on June 21 to Discuss Fundraising

Prestige Estates Projects Limited has announced that a meeting of its board of directors is scheduled for Friday, June 21, 2024. The primary agenda includes:

1. Fundraising Initiatives: The board will consider and approve the raising of funds through various methods such as qualified institutions placements (QIP), preferential issues, rights issues, private placements, or any other permissible forms of capital raising under the Companies Act, 2013, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended.
2. Shareholder Approval: The board will discuss and approve the Notice of Postal Ballot for seeking shareholder approval for the proposed fundraising activities.
3. Hospitality Segment Asset Monetization: The board will consider the monetization of assets in the Hospitality segment by issuing shares, subject to board and shareholder approval, market conditions, and receipt of applicable approvals in compliance with the relevant laws.

Additionally, in accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's Code of Conduct, the Trading Window for dealing in the company's securities will remain closed from the date and time of this intimation until 48 hours after the conclusion of the board meeting.

You can read the full document here.

Fundraising Methods in the Share Market 

Fundraising in the share market can be executed through several methods tailored to meet varying financial needs and regulatory requirements. These methods include:

1. Asset Finance: This involves raising funds by selling assets owned by a corporation. Companies can liquidate assets such as real estate, equipment, or intellectual property to generate capital quickly.
2. Debt Finance: Companies can raise funds by borrowing money from financial institutions, banks, or through the issuance of corporate bonds. Debt financing allows companies to access capital while retaining ownership and control.
3. Equity Finance: This method involves raising funds by selling ownership stakes in the company to investors, such as Venture Capitalists (VCs) or private equity firms. Equity financing provides capital in exchange for shares, allowing investors to share in the company's profits and losses.
4. Capital Raising under Companies Act, 2013 and SEBI Regulations: Companies can utilize various formal methods such as Qualified Institutions Placements (QIPs), preferential issues, rights issues, private placements, or other permissible forms of capital raising outlined in the Companies Act, 2013, and the Securities and Exchange Board of India (SEBI) regulations. These methods ensure compliance with legal and regulatory frameworks while accessing capital from the market.

Each fundraising method offers distinct advantages and considerations, depending on the company's financial strategy, growth objectives, and market conditions. 

Prestige Group 

Prestige Group, a pioneer in India’s real estate sector since 1986, led by CMD Irfan Razack and his brothers, has diversified into various services such as interior design with Morph Design Company and men’s formal wear through Prestige Fashions.

Renowned for innovation, the group has delivered over 300 projects covering 180 million sqft, with 56 ongoing projects spanning 86 million sqft and plans for 43 upcoming projects on 728 acres as of September 2023.

Graded CRISIL DA1+ and with an ICRA A+ credit rating, Prestige Group continues to set benchmarks across residential, commercial, retail, leisure, and hospitality segments in South India.