The initial public offering (IPO) of PKH Ventures has received a moderate response, with the issue being subscribed 21% so far. The retail category garnered 21% subscription, while the non-institutional portion received 30%. However, the part reserved for qualified institutional buyers (QIB) was subscribed just 11%. Market analysts have mixed views on the IPO, citing high valuations as a concern. The IPO comprises a fresh equity issue of up to 1.82 crore shares and an offer for sale (OFS) of up to 73.7 lakh equity shares. The company is offering its shares in the price range of Rs 140-148.
Construction and hospitality firm PKH Ventures plans to raise up to INR379 crore ($50m) through an initial public offering, with 50% of the net offer reserved for the qualified institutional buyer portion. The company will use the proceeds for investment in its construction subsidiaries, inorganic growth through acquisitions, and other general corporate purposes. As of December 2022, PKH Ventures reported revenues of INR125 crore and a profit after tax of INR28.6 crore. Its management services wing involves work for the Delhi police headquarters. IDBI Capital Markets is the bookrunning lead manager while Link Intime India is the registrar.