IPO Centre - IPO News
PKH Ventures IPO subscribed 6%
The issue opened for bidding on Friday (30 June 2023) and it will close on Tuesday (4 July 2023). The price band of the IPO is fixed at Rs 140-148 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
The IPO comprises fresh issue of equity shares worth upto 1,82,58,400 equity shares and an offer for sale of upto 73,73,600 equity shares by its promoter, Pravin Kumar Agarwal.
Out of the net proceeds from fresh issue, Rs 124.12 crore will be used towards investment by way of equity in Halaipani Hydro Power Project, Rs 80 crore will be used towards investment by way of equity in Garuda Constructions for funding long-term working capital and Rs 40 crore will be used for in organic growth through acquisition & other strategic initiatives and balance for general corporate purposes.
PKH Ventures is primarily engaged in the business of construction and development (C&D), hospitality and management services.
The company reported a net profit of Rs 28.64 crore and net sales of Rs 125.46 crore for the nine months ended 31 December 2023.
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