White & Case advises on Prestige Estates Projects Limited’s QIP of shares

Global law firm White & Case LLP has advised the book running lead managers on the qualified institutions placement (QIP) of shares of Prestige Estates Projects Limited, one of the leading real estate developers in India.

"This transaction is one of the largest QIPs by an Indian real estate company as of its launch on August 29, 2024," said White & Case partner Rahul Guptan, who led the Firm's deal team. "Aside from being a significant milestone for our clients, the successful completion of this deal is yet another demonstration of our capabilities in delivering landmark transactions in the Indian capital markets in tight timelines and complex situations."

Prestige Estates Projects Limited sold 29,868,578 equity shares, totaling INR 50 billion (approximately US$595.56 million), to eligible institutional investors.

JM Financial Limited, CLSA India Private Limited, J.P. Morgan India Private Limited and Kotak Mahindra Capital Company Limited acted as the book running lead managers.

Headquartered in Bengaluru, Prestige Estates Projects Limited is a listed company and one of the leading Indian real estate developers, with a strong presence in Southern India. Its portfolio of properties is spread across the residential, commercial, hospitality and retail sectors.

The White & Case team that advised on the transaction included partners Rahul Guptan (London), Kaya Proudian (Singapore), Elodie Gal and Steven Gee (both New York), and associates Yuning Zhou and Paul Qu (both Hong Kong) and Nir Fishbien (New York).

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