Global private equity funds Temasek and Sequoia are understood to be advanced stages of finalising a combined investment of close to Rs 200 crore in Bangalore-based realty developer Prestige Estates Projects. This will be part of the pre-IPO placement, which Prestige will be executing ahead of its proposed public offer.Prestige has an existing joint venture with an associate firm of CapitaMalls (a large developer and operator of malls in Asia) to develop retail projects in south India at Bangalore, Mysore, Mangalore, Hyderabad and Kochi. It also entered into a JV with CapitaMalls to manage the retail malls developed by the joint venture.
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