Prestige Estates Projects Ltd. is considering putting an initial public offering of its hospitality unit on hold and is instead exploring a minority stake sale to private equity investors, people familiar with the matter said.

The Bengaluru-based developer has started discussions with potential investors to raise about $300 million for Prestige Hospitality Ventures Ltd., according to the people, who asked not to be identified because the information is private. 

Deliberations are ongoing and may not result in a deal, the people said.

A representative for Prestige Estates said the company has been cautious because of the impact of geopolitical instability on the market, and that it will take the appropriate decisions when necessary.  

The company had planned a ₹2,700 crore ($286 million) IPO for the unit, and received approval to proceed from the regulators last year. However, it is reconsidering due to weakness in the stock market: Sensex is down almost 10% in 2026, putting it on course for its first annual loss since 2015. 

Other Indian firms have also put plans for share sales on ice, including Walmart Inc.-backed PhonePe Pvt and Sify Infinit Spaces Ltd.  

Prestige Hospitality operates properties in partnership with brands including Marriott International Inc., Hilton Worldwide Holdings Inc.’s Conrad and Banyan Group’s Angsana Resorts & Spa. Shares of parent Prestige Estates are down about 5% in Mumbai this year. 

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Published on June 18, 2026