Prestige Estates Projects jumps after CPP Investments to invest 30 bln rupees
Canada's CPP Investments will invest 30 billion rupees ($312.60 million) for about a 27% stake in Prestige Hospitality Ventures to fund expansion; shares rose 2.98% to 1,458.80 rupees.
60 million) in Prestige Hospitality Ventures, the real estate developer’s hospitality platform. CPP Investments will take about a 27% stake in the hospitality unit, with most of the money aimed at supporting the platform’s expansion. The deal is CPP Investments’ first direct investment in India’s hospitality sector. 50 rupees.
59% year to date. 9700 Indian rupees)