Mumbai (Maharashtra) [India], June 26: PKH Ventures Ltd – a leading corporate group engaged in the business of construction & development, hospitality and management services, plans to raise up to Rs. 379.35 crores from its public issue to fund expansion plans. The company plans to use issue Rs. 124.11 crore from issue proceeds for equity investment in Halaipani Hydro Power Project, Rs. 80 crore towards equity investment in a subsidiary company, Garuda Construction, for funding working capital requirement, Rs. 40 crores for pursuing inorganic growth opportunities through acquisition and other strategic initiatives and general corporate purposes. The public issue opens for subscription on June 30 and closes on July 4, 2023. The company’s shares will be listed on the BSE & NSE.
| Particulars | 9MFY23 | FY22 | FY21 | FY20 |
| Total Income (₹ in Cr) | 155.03 | 245.40 | 264.65 | 169.00 |
| EBITDA (%) | 41.71% | 40.35% | 29.71% | 13.38% |
| PAT (%) | 18.47% | 16.51% | 11.55% | 8.34% |
| ROE (%) | 8.04% | 12.38% | 16.55% | 9.43% |
The initial public offering of up to 2,56,32,000 equity shares of face value Rs. 5 each comprises of fresh issue of up to 1.82 crore equity shares and an offer for sale of up to 73.73 lakh equity shares by the promoter group. The company has fixed a price band of Rs. 140-148 per equity share for the public issue (including a premium of Rs. 135-143 per equity share). The company plans to raise up to Rs. 379.35 crores from the public issue at the higher price band of Rs. 148 per share. The minimum lot size for the application is 100 shares and multiple thereof. Retail investor and HNI quota for the IPO is kept at not less than 25% and 15% of the issue, respectively, while QIB quota is kept at a maximum of 50% of the issue.
Mr Pravin Kumar Agarwal, Promoter, Chairman and Managing Director, PKH Ventures Ltd, said, “Company is progressing well on its long-term growth roadmap and has delivered a robust operational and financial performance over the years and is committed to improving growth numbers going forward. We are confident that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders. Proceeds of the issue will further strengthen the company’s balance sheet and help fund its strategic growth initiatives.”
Incorporated in 2000, PKH Ventures Limited is engaged in the business of Construction & Development, Hospitality, and Management Services with an established track record and follows an asset-light model for the civil construction business. The company executes Civil Construction works for Third Party Developer projects through its Subsidiary and construction arm, Garuda Construction. Third-party order book as on March 2023 stands at Rs. 468.27 crore.
| IPO Opens on | June 30, 2023 |
| IPO Closes on | July 04, 2023 |
| Issue Price Band | Rs. 140-148 Per Share |
| Issue Size (No of Shares) | 2,56,32,000 Equity Shares |
| Fresh Issue (No of Shares) | 1,82,58,400 Equity Shares |
| Offer for Sale (No of Shares) | 73,73,600 Equity Shares |
| Issue Size (Rs. Cr) | Rs. 358.85 – 379.35 crore |
| Listing on | BSE & NSE |
The company has been awarded two Govt Projects, viz., Hydro Power Project, Nagpur Project and three Govt Hotel Development Projects, viz., Rajnagar Garhi Project, Pahadikhurd Project and Tara Resort Project, being executed through Subsidiaries/SPVs/ Company. The company owns or manages three hotels, including a resort, five restaurants, four banquets and two spas in Mumbai & nearby areas. The company is proposing to develop its own development projects, which include real estate development at Amritsar, Punjab, a food park at Jalore, Rajasthan, a cold storage park/facilities at Indore, Madhya Pradesh and a wellness center & resort at Chiplun, Maharashtra. The financial performance of the company has exhibited considerable progress over the years, demonstrating growth and stability. For FY21-22 company reported a total income of Rs. 245.40 crores and a net Profit of Rs. 40.51 crores. For the nine months ended December 2022, the company reported a total income of Rs. 155.03 crore and earned a net profit of Rs. 28.63 crore. As on March 2022, the Net worth of the company stands at Rs. 327.38 crore, Total Assets at Rs. 1,102 crore and Reserves & Surplus at Rs. 295.69 crores.
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