The Bangalore offices of AZB & Partners acted as the domestic legal counsel to Bangalore-based real estate developers Prestige Estates Projects Limited, who filed their draft red herring prospectus (DRHP) with the SEBI yesterday. The AZB team was led by Bangalore Partner Srinath Dasari. Prestige Estates is planning to raise Rs. 1,200 crores ($258 million) through the IPO. The company is also planning to raise Rs. 200 crores ($43 million) through a pre-IPO placement slated to begin a week after the DRHP filing.

The funds raised through the issue will be utilized to finance ongoing and future projects and invest in subsidiaries. The company's in-house legal and compliance issues were handled by T. Arvind Pai, the Senior Vice President (Legal) and Lalitha Kini, the Company Secretary and Compliance Officer.

The Bangalore offices of Amarchand Mangaldas acted as the domestic legal counsels to the Book Running Lead Managers (BRLMs), while Clifford Chance, Singapore acted as the international legal advisors.

The DRHP also lists the local firms who have provided expert legal opinions on title of land, the customary practice for real estate transactions. The local counsels include Dua Associates in Hyderabad and Kusuma R. Muniraju in Bangalore.

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