Mumbai-based PKH Ventures Ltd, a diversified company undertaking business in three verticals, namely, Construction & Development, Hospitality and Management Services is eyeing to raise money from the primary markets. Through its initial public offering it will be offering and aggregate of 29.27 million shares, fresh issue and an offer for sale, at a face value of Rs 5 each. According to market sources, the company looks to raise approximately 500 crs.
Proceeds from the fresh issue to the tune of Rs 135.94 crore will be utilised for an investment by way of equity in Halaipani Hydro Project Pvt Limited for the development of a Hydro Power Project; Rs 100 crore will be utilized for an investment by way of equity in Makindian Foods Pvt Ltd towards the development its Amritsar Project- Phase 1; Rs 60 crore for funding in Garuda Construction for funding its working capital requirements besides general corporate purposes.
The company, in consultation with BRLMs, could consider a pre-IPO placement of equity shares up to 2.5 million. The number of equity shares issued pursuant via pre-IPO placement will be reduced from the fresh issue.
Incorporated in the year 2000 by Pravin Kumar Agarwal, it began with offering management services at several airports, currently PKH Ventures operates its business under three broad verticals, namely, Construction & Development, Hospitality and Management Services. The debt averse company largely manages its fund requirements through internal accruals. Its debt to asset ratio stood at 0.16 as on March 31, 2021.
Its Construction & Development projects include residential, commercial buildings and miscellaneous construction projects like Amritsar Project, Punjab; Halaipani Hydropower Plant, Arunachal Pradesh; Food Park at Jalore, Rajasthan; an entertainment centre at Nagpur, Maharashtra; Cold Storage Project near Indore, Madhya Pradesh and a Wellness Centre and Resort at Chiplun, Maharashtra. At present it has 11 projects under development and looks to focus on BOT and HAM projects, its margin and ROI potential.
The company owns and operates two hotels and manages one resort & spa at Aamby Valley, Lonavala. Additionally, it owns and operates restaurants i.e Balaji, Golden Chariot, Casablanca and manages and operates restaurants under the brand name Zebra Crossing, Hardy's Burger and Mumbai Salsa.
The company's order book as of September 24, 2021 stood at Rs. 1174.17 cr. PKH Ventures' consolidated revenue from operations stood at Rs 241.51 crore up from Rs 165.89 crore a year ago. Consolidated net profit for the period stood at Rs 30.57 crore versus Rs 14.09 crore last year.
Monarch Networth Capital Limited is the book running lead manager to the issue. Link Intime has been appointed as the registrar to issue. The equity shares of the company would be listed on BSE and NSE.