PKH Ventures’ IPO on Jun 30
The offer will conclude on July 4; Price band at Rs140-148 per share
image for illustrative purpose
New Delhi Construction and hospitality firm PKH Ventures on Monday said it has fixed a price band of Rs140-148 a share for its initial share sale, which will open for public subscription on June 30.
The initial public offering (IPO) will conclude on July 4, the company announced. The public issue comprises a fresh issue of 1.82 crore equity shares and an Offer for Sale (OFS) of 73.73 lakh shares by its promoter Pravin Kumar Agarwal. The company through its IPO will fetch Rs358.85 crore and Rs379.35 crore at the lower and the upper ends of the price band, respectively. Proceeds from the fresh issue to the tune of up to Rs124.12 crore will be used for investment in its subsidiary, Halaipani Hydro Project, for the development of a hydropower project. In addition, Rs80 crore will be utilised for investment in the subsidiary, Garuda Construction, for funding long-term working capital requirements, and Rs40 crore for pursuing inorganic growth and other strategic initiatives and general corporate purposes. Investors can bid for a minimum of 100 equity shares and in multiples of 100 equity shares thereafter.
The Mumbai-based company has three business verticals -- construction and management, hospitality, and management services.
The construction projects include residential and commercial buildings and miscellaneous projects including Delhi Police head quarter, a hydropower plant in Amritsar and Nagpur, and a food park. It also owns and operates two hotels and manages one resort and spa at Aamby Valley, Lonavala.
It also owns and operates certain restaurants and Quick Service Restaurants (QSRs) like Zebra Crossing, Mumbai Salsa, and Hardy’s Burger under its brands.
