Prestige Estates launches QIP to raise up to Rs 5,000 crore

Realty firm Prestige Estates Projects Ltd has launched a plan to raise up to Rs 5,000 crore through a Qualified Institutional Placement (QIP). The floor price for the equity shares has been set at Rs 1,755.09 per share. Recently, the company reported a 13% decline in net profit for the June quarter due to higher expenses.