Shares of Prestige Estates Projects surged 6 per cent to Rs 347 on the BSE on Wednesday, extending its previous day’s 4 per cent gain, after the company announced fund raising plan via preferential issue. In comparison, the S&P BSE Sensex was up 0.23 per cent at 41,446 level at 09:53 am.
The board of directors of the real estate developer is scheduled to meet on Friday, December 20, 2019 to consider and approve raising of funds through preferential issue to an identified allottee, Prestige Estates said in a regulatory filing on Monday after market hours.