Prestige Estates Projects Ltd IPO (Prestige Estates IPO) Detail

Oct 12, 2010 - Oct 14, 2010

Incorporated in 1986, Prestige Estates Projects Ltd is a Bangalore based company involve in real estate development. Prestige Estates is south India’s largest real estate development company.

Company has completed 142 real estate projects of approximately 27.09 million sq. ft. Company has a diversified portfolio of real estate development projects including residential (including apartments, villas, plotted developments and integrated townships), commercial (including corporate office blocks, built-to-suit facilities, technology parks and campuses and SEZs), hospitality (including hotels, resorts and serviced accommodation) and retail (including shopping malls) segments of the real estate industry.

Company has established a strong brand image, have a successful track record of execution and a diversified portfolio of real estate projects

Company Financials

ParticularsFor the year/period ended (in Rs. Million)
Total Income9,161.519,892.654,271.424,743.313,816.45
Profit After Tax (PAT)707.31541.63390.91305.34346.03

Objects of the Issue

The Objects of the Issue are to:

a) Finance our Ongoing Projects and Projects Under Development;
b) Invest in our existing Subsidiaries which investment will be utilized for the construction and development of our commercial Ongoing Project, retail Ongoing and retail Projects Under Development undertaken by those Subsidiaries;
c) Finance the acquisition of land;
d) Repay certain loans of our Company; and
e) General corporate purposes.

Prestige Estates IPO Details

Prestige Estates IPO Date Oct 12, 2010 to Oct 14, 2010
Prestige Estates IPO Face Value ₹10 per share
Prestige Estates IPO Price ₹172 to ₹183 per share
Prestige Estates IPO Lot Size 30 Shares
Issue Size65,573,770 shares of ₹10
(aggregating up to ₹1,200.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Company Promoters

The Promoters of the Company are:
1. Mr. Irfan Razack
2. Mr. Rezwan Razack
3. Mr. Noaman Razack

Prestige Estates IPO Lot Size

The Prestige Estates IPO lot size is 30 shares. A retail-individual investor can apply for up to 36 lots (1080 shares or ₹197,640).

Application Lots Shares Amount
Retail (Min) 1 30 ₹5,490
Retail (Max) 36 1080 ₹197,640

Prestige Estates Projects Ltd IPO Grading / Rating

ICRA has assigned an IPO Grade 3 to Prestige Estates Projects Ltd IPO. This grade indicates that the fundamentals of the IPO are 'Average' relative to other listed equity securities in India. ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CRISIL IPO Grading Document for Prestige Estates Projects Ltd.

Prestige Estates Projects Ltd IPO Tags:

Prestige Estates IPO, Prestige Estates IPO, Prestige Estates Projects IPO Bidding, Prestige Estates IPO Allotment Status, Prestige Estates drhp and Prestige Estates Projects Ltd IPO listing.

Prestige Estates IPO Subscription Status (Bidding Detail)

The Prestige Estates IPO is subscribed 2.26 times on Oct 14, 2010 5:00:00 PM. The public issue subscribed 0.08 times in the retail category, 4.32 times in the QIB category, and 0.24 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Prestige Estates IPO Prospectus

Prestige Estates IPO Rating

Rating:Rated 3.0 stars
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Prestige Estates IPO Listing Date

Listing Date Wednesday, October 27, 2010
BSE Script Code 533274
Listing In B Group of Securities
ISIN INE811K01011
IPO Price ₹183 per share
Face Value ₹10 per share

Listing Day Trading Information

IPO Price
Last Trade

Company Contact Information

Prestige Estates Projects Ltd
Falcon House, No 1 Main Guard Cross Road,
Bangalore - 560001
Karnataka, India
Phone: 80 25591080

Prestige Estates IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Prestige Estates IPO Review

Prestige Estates IPO Recommendation Summary

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Prestige Estates IPO FAQs

Prestige Estates IPO is a main-board IPO of 65,573,770 equity shares of the face value of ₹10 aggregating up to ₹1,200.00 Crores. The issue is priced at ₹172 to ₹183 per share. The minimum order quantity is 30 Shares.

The IPO opens on Oct 12, 2010, and closes on Oct 14, 2010.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Prestige Estates IPO opens on Oct 12, 2010 and closes on Oct 14, 2010.

Prestige Estates IPO lot size is 30 Shares and the minimum order quantity is .

You can apply in Prestige Estates IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Prestige Estates IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Prestige Estates IPO allotment status.

The Prestige Estates IPO listing date is on Wednesday, October 27, 2010.
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Prestige Estates IPO Message Board

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113. ipoforu |   Link |Nov 4, 2010 10:40:03 AM
Ravi: Hope u had profitable trade. If u had waited u could done more profit.And if u still hold or year u could see price of 400 to 420rs
112. Ravi, Bangalore |   Link |Oct 29, 2010 11:45:32 AM
Top Contributor Top Contributor (300+ Posts)
112. ipoforu

Thanks for disagreeing. I am not forcing anybody to follow my analysis.

Coal India selling at first opportunity and entering later at declines is my strategy & analysis. I am happy if you make money in that IPO in short-term, no issue even if I miss by disagreeing with you.

Technical Analysis / Short-term trading is not suitable for everybody. You are at liberty to reject as it is your money & your responsibility.
111. ipoforu |   Link |Oct 29, 2010 12:25:36 AM
111. Ravi,
I understood your phylosophy of 9:05. Thank god u have not mentioned 9:01. And all your technical analysis.... god knows, who is reading it..
Who is retired and who is active time will tell..
All the best for your sale....
110. Ravi, Bangalore |   Link |Oct 28, 2010 12:48:51 PM
Top Contributor Top Contributor (300+ Posts)
109. ipoforu

If your investment horizon is more than two years, you can keep holding. 10 - 15% correction can happen if Mining Bill becomes law.

At 300, it has factored in next one years'growth. It is suitable for retired people. I don't have patience to hold for long-term, but once Mining Bill becomes law I would prefer to enter at lower levels.

As of now, I am long-term investor only till 9:05 a.m. on listing-day.
109. ipoforu |   Link |Oct 27, 2010 10:48:25 PM
Morgan stanley and Swiss finance guys are really smart fund house, who have sold the stake in prestige. Openhiemer is norwagian fund, relatively new player.
108. ipoforu |   Link |Oct 27, 2010 10:01:56 PM
108. Janmejay Gupta / Ravi, whaterver
Coal india already spends close to 3-4% of the revenue in CSR activity (They have lot of locals /resident as labourer) etc. They run more hospitals than appollo or fortis.

Draft mining bill even implemented, all this CSR cost will billed as part of this outlay. It will have more impact for other players and mining industry as whole, but for coal india it's impact will be minimum.

Coal india is perfect india story every institutions like to play. this stock can be put in PFC/REC/Oil india category and strictly not in categoy of NHPC/Sutluj/NMDC/Hindustan copper (FPo to follow).

It's profit will rise and it will get re-rated. You can even see 400 on the stocks. Only risk to the stock is Workers strike, if they see investor making money and their demands are not met. At this juncture even strike can be dealt because govt/ coal india ill aford to stop production when power plant is runnig out of the coal.
107. Janmejay Gupta |   Link |Oct 27, 2010 1:07:23 PM
106. ipoforu

I am not comparing Prestige with Coal India. How can I compare elephant to goat?

Have you heard about Draft Mining Bill? What impact it can have on Coal India's PAT? You should know that before talking about long-term.

Ravi(wrong ID due to bug).
106. Ravi, Bangalore |   Link |Oct 27, 2010 12:26:47 PM
Top Contributor Top Contributor (300+ Posts)
Prestige 206- Resistance 211. No short till 190 holds.
105. ipoforu |   Link |Oct 26, 2010 11:12:09 PM
Do not compare coal india with Prestige. There is no coparison. coal is rating is 5/5,cash rich company, sitting on commodity which every industry power, steel, metal, cement everybody is craving for. Coal india is highly undervalued.
It is real Jem diamond, which nobody should even sell at Rs.300. If holded it will fetch you Rs.400 or more.
Prestige is debt ridden, showing investor the land they own and showing the future profit. current profit is very small with all their rental incomes secutarise
104. Bhola |   Link |Oct 26, 2010 5:49:25 PM
It will be difficult for this company to save its prestige.Its worse than Ramky.
103. chaitu s |   Link |Oct 26, 2010 5:36:36 PM
well said Ravi, i completely agree with you..
Same happened with ramky, while Udayan & other were shouting listing price of rs 500..
102. Ravi, Bangalore |   Link |Oct 26, 2010 4:23:35 PM
Top Contributor Top Contributor (300+ Posts)

Market operators are an essential component of a bull market. Promoters need them to cheat investors through price rigging and profit rigging. The usual route is to show exaggerated profits, loan shares to operators and unload the promoter’s holding. Promoters usually collude with market operators who flaunt the right connections – FIIs and Domestic Institutional Investors as clients. It is an open secret that many Fund Managers receive huge kickbacks for investing in certain companies & IPOs with an assurance from the Promoter/Operators that they can exit at a high price through market manipulation.

When you think of operators, don’t think of shadowy individuals. They could well be institutions with a big name and shining public image.

The institutions will have an understanding with the promoters.

A grey market may sprung up for the issue quoting a price of Rs 200, when the IPO was at Rs 175. Operators in Ahmedabad, Rajkot, Kolkata actually ‘BUY’ some shares from the public at Rs200 but immediately SELL them at Rs190. They create an impression that this grey market is genuine and we could sell our shares at Rs200. The operators loose some money, which will be compensated, and the company raise thousands of crores.

In several IPOs, promoters give operators a kickback of as much as 50% to get the issue subscribed. Once it is subscribed, operators who own most of the floating stock are able to ramp up the share price immediately on listing and start exiting. Their risk is minimal because they have already taken a 50% kickback.

They offer good party & offer grafts for analysts to give BUY report buliding stories & projecting fancy future earning numbers. Buying any stock based on future earnings in bull market is not an investor, he is a punter. A punter is not necessarily someone who plays on technical analysis- even investor who first buy & then reserach are also called punters, even who invests based on future earning estimates without due digilence are also called Punters. People research after bought & caught some stocks. It is like playing ANDHER-BAAHAR without seeing cards!

Chairman of Coal India Ltd. (CIL) as saying that 'the listing gains from CIL will be big'. We believe that getting carried away in the rising tide of bull markets is a normal human behaviour. But the managements trying to talk up their stock prices, or attract investors to their stocks by making such statements. Does anybody who talk long-term investment in Coal India know the impact of Draft Mining Bill if it becomes law in its present form?

Most initial public offerings underperform the stock market as a whole in the long-term. The Managers of the companies themselves try to time their sales to coincide with a peak in the prosperity of their companies.

Prestige is one bad issue. Let's see what is in store tomorrow. Some people may blame third person for their investment decisions!
101. rajiv jain |   Link |Oct 26, 2010 1:39:58 PM
any one is not writing in this page why
100. Ravi, Bangalore |   Link |Oct 25, 2010 1:51:59 PM
Top Contributor Top Contributor (300+ Posts)
My strategy for first 30 minutes:

1. Wait for 10 minutes.
2. If the issue breaks Day's Open Price SELL with Rs. 5 stop-loss above Open Price.

My estimation of its fair value is anywhere between Rs.117 to Rs. 95. HDFC & Edelweisss have expressed concern over its high debt.
99. Anonymous |   Link |Oct 24, 2010 9:15:34 PM
What happened in Orient Green power =900cr. worth of shares And only 30cr. worth of shares with public. Still could not manage. Why one will buy a debt ridden company at 40multiples
98. Anonymous |   Link |Oct 24, 2010 7:44:21 PM
prestige k sare share QIB walo k pass hi hai,
to easyli manage ho jayega.
you all think about it,
pahle QIB portion ko dekho phir kahna .
97. Anonymous |   Link |Oct 24, 2010 7:30:00 PM
IPO float is 1200cr. Very large. Difficult to manage, if somebody tries , they will burn fingers and institutions will exist.

Presitge is in Debt upto their neck, even all their rentals incomes are secutarised with the lenders. 6000cr,mkt cap and income around 144cr.
96. DR.MANMOHANSINGH |   Link |Oct 24, 2010 3:22:24 PM
96. Anonymous



95. Anonymous |   Link |Oct 24, 2010 3:10:15 PM
suna hai ki 1 opretor ne prestige me entry li hai
ye ipo ka listing 225 pe hoga aur band 340 pe hoga.
its a sure shoooooooooote.
94. Anonymous |   Link |Oct 23, 2010 7:19:08 PM
i think employee reservation added to retail