PKH Ventures IPO Subscribed 65% On Day 3
The IPO has been subscribed 0.65 times, or 65%, as of 7:00 p.m. on July 4.
PKH Ventures Ltd. will close its three-day initial public offering on Tuesday, June 4. The issue has seen tepid response from investors, being subscribed 6% on its opening day, and 30% on the second day.
PKH Ventures is looking to raise Rs 379.4 crore through the initial public offering. Of this, Rs 270.2 crore will be raised via a fresh issue, and the rest through an offer for sale.
PKH Ventures is in the business of construction, development, hospitality, and management services. It executes civil construction works for third-party developer projects. The company 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: Rs 109.1 crore.
Shares for offer for sale: 73,73,600 shares.
Price band: Rs 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 Pvt. 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 3
The IPO has been subscribed 0.65 times, or 65%, as of 7:00 p.m. on July 4.
Institutional investors: 0.11 times, or 11%.
Non-institutional investors: 1.67 times.
Retail investors: 0.99 times, or 99%.
