 "PKH Ventures files draft papers for IPO with Sebi")
PKH Ventures, a construction and hospitality firm, has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).
The public issue comprises fresh issuance of 1.826 crore equity shares and an Offer For Sale (OFS) of 0.983 crore shares by its promoter, according to the Draft Red Herring Prospectus (DRHP).
The company may also consider a pre-IPO placement of 15 lakh equity shares.
Proceeds of the issue will be used to invest in subsidiaries -- Halaipani Hydro Project Pvt Ltd and Garuda Construction -- funding long-term working capital requirements, for funding strategic acquisitions and investments, among others.
The Mumbai-based company has three business verticals -- construction and management, hospitality and management services.
For the financial year ended March 31, 2021, the company had a profit after tax of Rs 51.63 crore while the total income stood at Rs 265 crore.
IDBI Capital Markets & Securities and BOB Capital Markets are the book running lead managers that will advise the company on the IPO.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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