AZB works with Amarchand and Clifford Chance to launch Prestige Estates IPO

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.