PKH Ventures submits draft papers for IPO with Sebi

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.

(The title and image for this report may have been reformulated only by the Business Standard staff; the rest of the content is automatically generated from a shared feed.)

Dear Reader,

Business Standard has always strived to provide the latest information and commentary on developments that matter to you and that have broader political and economic implications for the country and the world. Your continued encouragement and feedback on how we can improve our offerings has made our resolve and commitment to these ideals even stronger. Even during these challenging times brought about by Covid-19, we continue our commitment to keeping you updated with trusted news, authoritative opinions and insightful commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more, so we can continue to bring you more quality content. Our subscription form has seen an encouraging response from many of you, who have subscribed to our content online. Further subscribing to our online content can only help us achieve our goals of providing better and more relevant content. We believe in free, fair and credible journalism. Your support with more subscriptions can help us practice the journalism we are committed to.

Support quality press and Subscribe to Business Standard.

digital publisher

Leave a Reply

Your email address will not be published. Required fields are marked *