PKH Ventures Announces IPO Launch Date of June 30th; Sets Share Price Band at Rs 140-148
PKH Ventures, a construction and hospitality firm, has announced the details of its upcoming initial public offering (IPO). The IPO will open for public subscription on June 30 and conclude on July 4. The company has set a price band of Rs 140-148 per share for the IPO.
The public issue consists of a fresh issue of 1.82 crore equity shares and an Offer for Sale (OFS) of 73.73 lakh shares by the company’s promoter, Pravin Kumar Agarwal. The IPO is expected to raise around Rs 358.85 crore to Rs 379.35 crore, depending on the lower and upper ends of the price band.
The proceeds from the fresh issue will be utilized for various purposes. Up to Rs 124.12 crore will be invested in the subsidiary, Halaipani Hydro Project, for the development of a hydropower project. An investment of Rs 80 crore will be made in the subsidiary, Garuda Construction, to fund long-term working capital requirements. Additionally, Rs 40 crore will be allocated for pursuing inorganic growth, other strategic initiatives, and general corporate purposes.
Interested investors can bid for a minimum of 100 equity shares and in multiples of 100 equity shares thereafter. PKH Ventures operates in three business verticals: construction and management, hospitality, and management services. The company has undertaken various construction projects, including residential and commercial buildings, as well as infrastructure projects such as a hydropower plant in Amritsar and Nagpur, and a food park.
The company also owns and operates two hotels and manages a resort & spa in Aamby Valley, Lonavala. It has its own branded restaurants and Quick Service Restaurants (QSRs) such as Zebra Crossing, Mumbai Salsa, and Hardy’s Burger.
In the financial year 2021-22, PKH Ventures reported a profit after tax of Rs 40.51 crore and generated revenue from operations amounting to Rs 199.35 crore.
IDBI Capital Markets & Securities is the book-running lead manager for the IPO, and the stock will be listed on the BSE and NSE exchanges.
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