India, April 25 -- Bengaluru-based Prestige Hospitality Ventures Ltd (PHVL), an arm of Prestige Estates Projects Ltd, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO) to raise up to Rs.2,700 crore, the company said in a regulatory filing.

The company filed its Draft Red Herring Prospectus (DRHP) with the markets regulator SEBI on April 24.

"The IPO comprises a fresh issue of equity shares of the face value of Rs.5 each, aggregating up to Rs.1700 crore and an offer-for-sale (OFS) aggregating up to Rs. 1000 crore. The offer for sale comprises equity shares of face value of Rs.5 each by Prestige Estates Projects Limited (Promoter Selling Shareholder)," the compa...