Prestige Estates Projects Limited — Others, 29-10-2024: Monitoring Agency Report

Prestige Estates Projects Ltd. disclosed a report confirming that the proceeds from its recent Qualified Institutional Placement (QIP) have been utilized in accordance with the initial plans. The Monitoring Agency, ICRA Limited, found no deviations in the allocation of funds for repayment of borrowings, land acquisition, and investments in projects, affirming that all uses align with the objectives stated in the offer document. Total proceeds amounted to INR 5,000 crore.