PKH Ventures files draft papers with Sebi to raise funds through IPO

Diversified company PKH Ventures Ltd has filed draft papers for an Initial Public Offering (IPO) with markets watchdog Sebi.

The offer will be for up to 2,92,73,000 shares, including fresh issue to the tune of 2,42,73,000 shares and 50,00,000 shares to be offloaded through Offer for Sale (OFS) route, the Draft Red Herring Prospectus (DRHP) said.

The Mumbai-based company is mainly into three verticals -- construction and development, hospitality, and management services.

It is looking to raise around Rs 500 crore through the IPO, according to sources.

Out of the fresh issue proceeds, Rs 135.94 crore will be utilised for an investment in Halaipani Hydro Project Pvt Ltd and Rs 100 crore will be used for investment in Makindian Foods Pvt Ltd towards the development of its project in Amritsar. Besides, Rs 60 crore will be for funding Garuda Construction and for general corporate purposes.

The hydro power project is in Arunachal Pradesh.

Monarch Networth Capital Ltd is the book running lead manager to the issue.

PKH Ventures owns and operates two hotels and manages one resort and spa at Aamby Valley, Lonavala. Among others, it manages and operates restaurants under the brand name Zebra Crossing, Hardy's Burger and Mumbai Salsa.