Bengaluru/Mumbai, April 7 -- Prestige Hospitality Ventures Ltd is likely to submit its papers to the market regulator Securities and Exchange Board of India (Sebi) this month for a public listing to raise Rs.2,000-2,500 crore, according to two people directly aware of its expansion and fundraising plans.

"The process has started and the DRHP (draft red herring prospectus) will be filed in two weeks or so," said one of the people mentioned above, on condition of anonymity. "The money will be used for funding the growth plans in the hotels and hospitality space."

"Prestige is looking to dilute 10% stake in the subsidiary through the proposed IPO (initial public offering) and has plans to significantly ramp up its hotel portfolio," said th...