PKH Ventures IPO Subscribed 6% On Day 1
The IPO has been subscribed 0.06 times, or 6%, as of 5 p.m. on June 30.
PKH Ventures Ltd. launches its initial public offering on June 30. The company is looking to raise a total of Rs 379.4 crore through a mix of fresh issues and offers for sale, of which Rs 270.2 crore will be raised through a fresh issue.
The company is in the business of construction, development, hospitality, and management services. It executes civil construction works for third-party developer projects and has been awarded two government projects and three government hotel development projects.
Issue Details
Issue opens: June 30.
Issue closes: July 4.
Allotment date: July 7.
Total issue size: Rs 379.4 crore.
Total shares: 2,56,32,000 shares.
Face value: Rs 5 per share.
Fresh issue: Rs 270.2 crore.
Shares for fresh issue: 1,82,58,400 shares.
Offer for sale: 109.1 crore.
Shares for offer for sale: 73,73,600 shares.
Price band: 140-148 per share.
Lot size: 100 shares.
Listing: BSE and NSE.
Use of Proceeds
The net proceeds will be used for the following purposes by the company:
Equity investment in the subsidiary, Halaipani Hydro Project Private Ltd., for the development of a hydropower project (Rs 124.1 crore).
Equity investment in the subsidiary, Garuda Construction, for funding long-term working capital requirements (Rs 80 crore).
Pursuing inorganic growth through acquisitions and other strategic initiatives (Rs 40 crore).
To fund expenditures for general corporate purposes.
Subscription Status: Day 1
The IPO had been subscribed 0.06 times, or 6%, as of 5 p.m. on June 30.
Institutional investors: 0.
Non-institutional investors: 0.10 times or 10%.
Retail investors: 0.13 times or 13%.
