Prestige Hospitality Ventures, the Prestige Group’s hospitality arm, has received SEBI approval for its ₹2,700 crore IPO. The IPO includes a fresh issue of shares and an offer for sale by Prestige Estates Projects. Proceeds will be used for debt repayment, acquisitions, and general corporate purposes, reflecting confidence in India’s premium hospitality sector.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.