Prestige Estates Projects IPO
Prestige Estates Projects IPO — date, price band, lot size & details 2010
Prestige Estates Projects listed on 27 Oct 2010 at ₹190, 3.8% above the ₹183 issue price.
Prestige Estates Projects is a Bangalore based real estate developer with residential, commercial, retail and hospitality projects across South India. Its total income was Rs 1,086.01 crore in FY2010.
Stock price
Prestige Estates Projects is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 12 Oct 2010
- Close 14 Oct 2010
- Allotment 21 Oct 2010
- Refund/credit TBA
- Listing 27 Oct 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 12 to 14 Oct, 2010 |
|---|---|
| Price Band | ₹172 – ₹183 |
| Face Value | ₹10 |
| Lot Size | 30 Shares |
| Issue Size | ₹1200 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 5,490 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 30 shares at the ₹183 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 30 | ₹5,490 |
| Retail (max) | 36 | 1,080 | ₹1,97,640 |
| S-HNI (min) | 37 | 1,110 | ₹2,03,130 |
| S-HNI (max) | 182 | 5,460 | ₹9,99,180 |
| B-HNI (min) | 183 | 5,490 | ₹10,04,670 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It had completed 142 projects covering about 27.09 million sq ft.
- 02Profit after tax rose from Rs 54.16 crore in FY2008 to Rs 129.45 crore in FY2010.
- 03Its portfolio spans residential, office, retail and hospitality, and EBITDA was Rs 285.19 crore in FY2010.
- 04Rs 280.00 crore of the issue was for repaying loans.
Risks · 5
- 01Total borrowing rose from Rs 913.70 crore in FY2008 to Rs 2,019.95 crore on 30 June 2010, well above its net worth of Rs 778.04 crore.
- 02Total income fell from Rs 989.26 crore in FY2008 to Rs 916.15 crore in FY2009 before recovering, showing how cyclical property is.
- 03Rs 443.61 crore of the issue was to go into subsidiaries for their commercial and retail projects.
- 04Most of its projects are in Bangalore, so it depends heavily on one city's property market; profit was Rs 17.27 crore in the June 2010 quarter.
- 05The promoters held 100% before the issue and 80.01% after it, so they control the company.
Three years of numbers
All figures in ₹ crore, as reported in the Prestige Estates Projects offer document.
| Metric | 30 Jun 2010 | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|---|
| Assets | 4,332.33 | 3,826.65 | 3,209.64 | 2,924.11 |
| Total Income | 309.46 | 1,086.01 | 916.15 | 989.26 |
| Profit After Tax | 17.27 | 129.45 | 70.73 | 54.16 |
| EBITDA | 69.70 | 285.19 | 276.94 | 151.39 |
| NET Worth | 778.04 | 763.76 | 618.53 | 502.99 |
| Reserves and Surplus | 515.54 | 501.26 | 606.03 | 490.49 |
| Total Borrowing | 2,019.95 | 1,601.49 | 1,112.46 | 913.70 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Prestige Estates Projects RHP.
Where the money goes
₹1,620.80 Cr of the issue is earmarked to named objects.
Prestige Estates Projects IPO Anchor Investors
25 anchor investors across 11 fund houses committed ₹215.46 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It had completed 142 real estate projects covering about 27.09 million sq ft.
Its portfolio covers residential projects such as apartments, villas, plotted developments and townships, commercial projects such as office blocks, technology parks and SEZs, as well as retail and hospitality projects.
The IPO was Rs 1,200 crore and was entirely fresh issue at Rs 183, the top of the Rs 172 to Rs 183 band. The money was for ongoing projects, investment in subsidiaries, land and repaying loans.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Prestige Estates Projects IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
256 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Ubs Securities India Private Limited
22 issues handledBest listing: BGR Energy Systems (+75.0%). Weakest: Bharti Infratel (-9.1%).
JP Morgan India Pvt. Ltd
41 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Prestige Estates Projects?
The current Grey Market Premium is ₹0.
What is the Prestige Estates Projects IPO price band?
₹172 to ₹183, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 October 2010, with listing on 27 October 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
