PKH Ventures IPO to open on Jun 30; price band fixed at Rs 140-148. Key details

The initial public offering (IPO) of PKH Ventures will kick off for public subscription on Friday, June 30. The construction company has fixed the IPO price band at Rs 140-148 apiece. The lot size would be 100 shares. The three-day stake sale will conclude on Tuesday, July 4.

PKH Ventures is eyeing to raise Rs 379.35 crore by selling up to 2,56,32,000 equity shares, which include up to a fresh issue of 1,82,58,400 shares and an offer for sale (OFS) of 7,373,600 equity shares by its promoter Pravin Kumar Agarwal, who is the sole selling shareholder.

PKH Ventures is engaged in the business of construction and development, hospitality, and management services. The company, which was incorporated in 2000,  received approval to launch its IPO from Sebi in July 2022. PKH Ventures executes civil construction works for third party developer projects through its Subsidiary and construction arm, Garuda Construction.

The net proceeds from the fresh equity shares would be utilised towards investment by way of equity in its subsidiary, Halaipani Hydro Project; investment in Garuda Construction project; funding long-term working capital requirements; acquisitions and other strategic initiatives; and funding expenditures towards general corporate purposes.

Its hospitality vertical is in the business of owning, managing, and operating hotels, restaurants, QSRs, spas, and the sale of food products. The company is also proposing to develop several projects, which include real estate development, an agro-processing cluster, cold storage park/facilities, and a wellness center and resort.

For the nine-months ended on December 31, 2022, the company reported a net profit of Rs 28.64 crore with a total revenue at Rs 155.03 crore. The company clocked a net profit at Rs 40.52 crore with a total revenue at Rs 245.41 crore for the financial year ended on March 31, 2022.

The company has reserved 50 per cent of the offer for qualified institutional buyers (QIBs), while non-institutional investors (NIIs) will get the remaining 15 per cent of the issue. Retail investors will get the remaining 35 per cent for the portion of the issue.

IDBI Capital Markets and Securities is the sole book-running lead manager to the issue, while Link Intime India has been appointed as the registrar for the issue. Shares of PKH Ventures will be listed on both BSE and NSE with July 12, 2023 as the tentative date of listing.

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