PKH Ventures announces IPO price band at Rs 140-148 per share

26 Jun 2023 , 02:19 PM

The initial public offer (IPO) of PKH Ventures is set to open on June 30 has set price band at Rs 140-148 a share.

PKH Ventures, a Mumbai-based company, has revealed details about its upcoming Initial Public Offering (IPO). The IPO will consist of a fresh issue of up to 18.26 million shares and an offer-for-sale of up to 7.73 million shares by its promoter, Pravin Kumar Agarwal, who currently holds a 63.69% stake in the firm.

At the upper band price, the total issue size is estimated to be Rs 379.35 crore, valuing the firm at Rs 1,217 crore. The proceeds from the fresh issue, amounting to Rs 124.12 crore, will be utilized to invest in the development of hydro power projects in their subsidiary, Halaipani Hydro Project. 

Additionally, Rs 80 crore will be allocated to their subsidiary, Garuda Construction, to fulfill long-term working capital requirements. The company plans to dedicate Rs 40 crore from the fresh issue towards pursuing inorganic growth through acquisitions and strategic initiatives.

IDBI Capital has been appointed as the sole book running manager for the IPO. 

PKH Ventures operates in three main business verticals: construction and development, hospitality, and management services. It specializes in executing civil construction works for third-party developer projects.

PKH Ventures IPO important details:

Open date	30 June 2023
Close date	4 July 2023
Lot size	100 shares
IPO size (Rs crore)	Rs 379 crore
IPO price range (Rs)	Rs 140-148 per shares
Minimum investment	Rs 14,800
Basis of allotment date	7 July 2023
Refunds date	10 July 2023
Credit to demat account date	11 July 2023
Listing date	12 July 2023