PKH Ventures, the construction and hospitality company, has filed initial papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The public issue of the new issue consists of Rs 1,826 crore of shares and an Offer for Sale (OFS) of 0.983 crore shares by its promoter, according to a draft Red Herring Prospectus (DRHP).
The company may also consider offering 15,000 shares of stock before the IPO.
Proceeds from the issuance will be used to invest in subsidiaries – Halaipani Hydro Project Pvt Ltd and Garuda Construction – to fund long-term working capital requirements, to fund acquisitions and strategic investments, among other things.
The Mumbai-based company has three business segments – Construction Services, Management and Hospitality and Management.
For the financial year ended March 31, 2021, the company made a profit after tax of Rs.51.63 crore while the total income was Rs.265 crore.
IDBI Capital Markets & Securities and BOB Capital Markets are the lead book managers who will advise the company on the IPO.
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