Prestige Estates Projects has received an approval to dilute 5% of promoters’ stake in the company through Qualified Institutional Placement (QIP), subject to approval of members and other statutory authorities. The board of directors at its meeting held on May 26, 2014 has approved for the same.
Prestige Estate Projects commenced operations as a partnership firm constituted under the Indian Partnership Act, 1932 on April 1, 1986 under the name and style of Prestige Estates and Properties. The partners of the firm were the Late S Razack, Irfan Razack, Rezwan Razack and Sameera Noaman.
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