In a filing to the BSE, Bangalore-based company informed that the QIP Committee at its meeting held today passed the resolution to authorise the opening of the QIP on August 04, 2014.
The floor price is Rs 247.70 per share, which is lower than the today's closing price of Rs 249.65 a share on BSE.
At this price, the QIP issue will fetch about Rs 400 crore.
On June 2 this year, Prestige had announced that the Board has approved to dilute 5 per cent of promoters' stake in the company through QIP.
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