<p>The issue will close for subscription on October 14.<br />The Bangalore-based company has fixed the price band of the IPO at Rs 172-183.<br />The proceeds from the issue will be utilised to fund construction and development of ongoing projects, acquisition of land and for clearing debts, Prestige Group Chief Financial Officer Venkat K Narayana told reporters here.<br /><br />"About 65 per cent of the fund raised will be used for developing ongoing projects and the rest will be used for corporate purposes," he said.<br /><br />Prestige has operations spread across tier II and III cities in southern India besides Bangalore. Its subsidiaries currently own or hold developments rights for 57.36 million sq ft area, which includes 28.43 million sq ft of saleable area and 11.04 million sq ft leasable area, he said.<br /><br />The company had clocked a PAT of Rs 129.44 crore during the year ended March 2010. The total revenue stood at Rs 1,086 crore, while the revenue for the first quarter ended June 30 was Rs 309.45 crore.<br /><br />The shares are proposed to be listed on the NSE and BSE. The Book Running Lead Managers are Enam Securities, J P Morgan India, Kotak Mahindra Capital and UBS Securities India.</p>
<p>The issue will close for subscription on October 14.<br />The Bangalore-based company has fixed the price band of the IPO at Rs 172-183.<br />The proceeds from the issue will be utilised to fund construction and development of ongoing projects, acquisition of land and for clearing debts, Prestige Group Chief Financial Officer Venkat K Narayana told reporters here.<br /><br />"About 65 per cent of the fund raised will be used for developing ongoing projects and the rest will be used for corporate purposes," he said.<br /><br />Prestige has operations spread across tier II and III cities in southern India besides Bangalore. Its subsidiaries currently own or hold developments rights for 57.36 million sq ft area, which includes 28.43 million sq ft of saleable area and 11.04 million sq ft leasable area, he said.<br /><br />The company had clocked a PAT of Rs 129.44 crore during the year ended March 2010. The total revenue stood at Rs 1,086 crore, while the revenue for the first quarter ended June 30 was Rs 309.45 crore.<br /><br />The shares are proposed to be listed on the NSE and BSE. The Book Running Lead Managers are Enam Securities, J P Morgan India, Kotak Mahindra Capital and UBS Securities India.</p>