Check PKH Ventures IPO live subscription status on day 3

4 Jul 2023 , 12:17 PM

The initial public offer of PKH Ventures will conclude today and the issue has received tepid response from the investors. As on July 4^th, 12.09 PM, the issue was subscribed 43% overall. Click here to subscribe the IPO.

On the third day of the subscription, retail investors’ portion received a subscription of 65%, indicating moderate interest from individual investors. Non-institutional investors (NIIs) showed higher enthusiasm with a subscription of 97% for their portion. However, the qualified institutional buyer (QIB) portion had a relatively low subscription rate of 11%.

The company has set the price band for its proposed initial public offer at Rs 140 to Rs 148 per equity share. Investors have the option to bid for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter.

The IPO comprises a fresh offering of up to 18,258,400 shares and an offer for sale of up to 7,373,600 shares by the company’s promoter, Pravin Kumar Agarwal. Pravin Kumar Agarwal currently holds 63.69% of the firm.

The proceeds from the new issue will be utilized for various purposes. A portion will be invested in the subsidiary Halaipani Hydro Project for the development of hydropower projects. Additionally, the funds will be used to meet the long-term working capital requirements of the company’s subsidiary, Garuda Construction. The company also intends to allocate a part of the proceeds from the new issuance for inorganic growth, including acquisitions and other strategic activities.