Indian real estate development firm Prestige Estates Projects raised $100 million from an accelerated qualified institutional placement on Tuesday as investors continue to flock to India after its recent election.
Demand from global institutional investors led the issuer and syndicate to increase the 18.75 million base deal size to 25 million shares and price the shares at Rs2.45, the middle of the indicative Rs2.40 to Rs2.48 range, according to a banker close to the deal, who noted that it was covered multiple times in the single digits. CLSA and JP Morgan led the deal.
All 25 million shares are primary and represent 6.7% of the enlarged share...
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