PRESTIGE ESTATES PROJECTS LIMITED IPO

Our Company 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 with its registered office at No. 6, Commercial Street, Bangalore 560 001. The partners of the firm were the Late S. Razack, Irfan Razack, Rezwan Razack and Sameera Noaman. The name of the firm was changed to Prestige Estates Projects by a supplementary deed of partnership dated May 12, 1997. The firm was registered as a private limited company under Part IX of the Companies Act, 1956, on June 4, 1997 with the name Prestige Estates Projects Private Limited and was allotted company identification number 08/22322/1997. All the business and property of the erstwhile partnership firm therefore became vested in our Company. Our Company was converted into a public limited company on November 10, 2009 with the name Prestige Estates Projects Limited and received a fresh certificate of incorporation consequent upon change in status on November 10, 2009 from the RoC. For details of change in registered office, see “History and Corporate Structure” on page 147.

In case of revision in the Price Band, the Bidding/Issue Period will be extended for three additional working days after revision of the Price Band, subject to the Bidding/Issue Period not exceeding ten working days. Any revision in the Price Band and the revised Bidding/Issue Period, if applicable, will be widely disseminated by notification to National Stock Exchange of India Limited (“NSE”) and Bombay Stock Exchange Limited (“BSE”), by issuing a press release, and also by indicating the change on the website of the Book Running Lead Managers (“BRLMs”) and at the terminals of the other members of the Syndicate.
In terms of Rule 19(2) (b) of the Securities Contracts (Regulation) Rules, 1957, as amended, this being an Issue for less than 25% of the post Issue paid-up equity capital, the Issue is being made through the 100% Book Building Process wherein at least 60% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”), (“QIB Portion”). Provided that our Company may allocate up to 30% of the QIB Portion, to Anchor Investors, on a discretionary basis (“Anchor Investor Portion”). For details, see “Issue Procedure” on page 423. Further 5% of the QIB Portion less Anchor Investor Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. If at least 60% of the Net Issue cannot be allocated to QIBs, then the entire application money will be refunded forthwith. Further, not less than 10% of the Net Issue will be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.

This being the first issue of the Issuer, there has been no formal market for the Equity Shares of the Issuer. The face value of the Equity Shares is Rs. 10 and the Floor Price is [●] times of the face value. The Issue Price (has been determined and justified by the lead merchant banker and the Issuer as stated under the paragraph on “Basis for Issue Price”) should not be taken to be indicative of the market price of the specified securities after the specified securities are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares of the Issuer nor regarding the price at which the Equity Shares will be traded after listing