PKH Ventures IPO closes today, issue bought 65 percent

PKH Ventures IPO

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26 Aug, 2025 12:21

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The maiden public issue of PKH Ventures, the construction and development company, has failed to attract an overwhelming response from investors even on its final day of bidding, July 4. The offer has garnered bids for 1.67 crore equity shares against the IPO size of 2.56 crore equity shares, subscribing 65 percent.

Retail investors have bought 99 percent shares of the reserved portion, while the part set aside for high networth individuals was subscribed to 1.67 times.

Qualified institutional investors have bid for 11 percent shares of the allotted quota.

The Mumbai-based construction company, which did not launch the anchor book, has reserved half of the issue portion for qualified institutional buyers, 15 percent for high-networth individuals and the balance 35 percent for retail investors.

The price band for the offer, which was opened on June 30, is Rs 140-148 per share.

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PKH Ventures intends to mop up Rs 379 crore via public issue of 2.56 crore equity shares at the upper price band. The offer comprises a fresh issuance of shares worth Rs 270.2 crore and an offer for sale of Rs 109.1 crore by promoter Pravin Kumar Agarwal.

The company will utilise about Rs 124 crore from its fresh issue proceeds for the development of a hydropower project via a subsidiary, Halaipani Hydro Project, which includes mainly civil construction and electromechanical works.

Further, around Rs 80 crore will be used for long-term working capital requirements in the Garuda Construction project, and Rs 40 crore for acquisitions and other strategic initiatives.

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PKH Ventures is the 11th public issue in the current calendar year, after Ideaforge Technology, Cyient DLM, HMA Agro Industries, IKIO Lighting, Nexus Select Trust REIT, Mankind Pharma, Avalon Technologies, Udayshivakumar Infra, Global Surfaces, and Divgi TorqTransfer Systems.