PKH Ventures announces IPO in the price band of ₹140-₹148

PKH Ventures Ltd., which is into construction and development, hospitality and management services, has announced an initial public offering (IPO) of its equity shares through a fresh issue of shares and offer for sale (OFS).  

The price band has been fixed between ₹140 to ₹148 per equity share and the issue will open on June 30. It will close on July 4. Investors can bid for a minimum of 100 equity shares with a face value of ₹5 and in multiples of 100 shares thereafter.

While the size of the fresh issue is estimated at about ₹270 crore, its promoter Pravin Kumar Agarwal will mobilise about ₹110 crore through the OFS.

The promoters are diluting 31.16% of their stake through this IPO. Of the ₹270 crore to be raised through the fresh issue, ₹120 crore will be utilised for a hydro project, ₹40 crore has been earmarked for acquisitions and ₹80 crore will go towards working capital. 

Under the Construction & Development vertical, the Civil Construction business is executed by its subsidiary Garuda Construction. Garuda Construction is currently executing Civil Construction of six residential projects for Third Party Developers and Promoter Group in the Mumbai Metropolitan Region (MMR). 

PKH through its subsidiaries has constructed and developed the Delhi Police Headquarters in April 2021 on Hybrid Annuity Model (HAM) basis.

Under the Hospitality segment, the company owns, manages and operates hotels, restaurants, QSRs, Spas and sale of food products. It owns two hotels in Andheri and Vasai at Mumbai and manage one resort & spa at Aamby Valley, Lonavala. Currently, the company has total hotel keys of 116 and has potential to add 70 more keys.

The company has been awarded with two Government projects (16 MW Hydro Power Project in Arunachal Pradesh and Nagpur Project) and three Government hotel development projects namely Rajnagar Garhi Project, Pahadikhurd Project and Tara Resort Project in Madhya Pradesh. 

Under Management Services vertical, the company provides services for the annual maintenance of the Delhi Police Headquarters.