New Delhi, June 27, 2023: Incorporated in the year 2000 by Pravin Kumar Agarwal, PKH Ventures Limited (“Company”) along with its subsidiaries is in the business of Construction & Development, Hospitality and Management Services and has fixed the price band at ₹140 to ₹148 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Friday, 30 June, 2023, for subscription and closes on Tuesday, 4 July, 2023. Investors can bid for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter.
The public issue of up to 2,56,32,000 Equity Shares of face value of ₹5 per Equity Share comprises of fresh issue of up to 1,82,58,400 Equity Shares and an Offer for Sale (OFS) up to 73,73,600 Equity Shares by its Promoter, Pravin Kumar Agarwal.
Under the Construction & Development vertical, the Civil Construction business is executed by its subsidiary Garuda Construction. Garuda Construction is currently executing Civil Construction of six (6) residential projects for Third Party Developers and Promoter Group in the MMR which representing order book of ₹46,827.59 Lakhs as on March 15, 2023. PKH through its subsidiaries has constructed and developed the Delhi Police Headquarters in April 2021 on HAM basis.
Under the Hospitality segment, it owns, manages and operates hotels, restaurants, QSRs, Spas and sale of food products. It owns two hotels in Andheri and Vasai at Mumbai and manage one resort & spa at Aamby Valley, Lonavala. Presently, the Company has total hotel keys of 116 and has potential to add 70 more keys.
The Company has been awarded with two (2) Government Projects (16 MW Hydro Power Project in Arunachal Pradesh and Nagpur Project) and three (3) Government Hotel Development Projects viz., Rajnagar Garhi Project, Pahadikhurd Project and Tara Resort Project in the state of Madhya Pradesh. Further, the Company is proposing to develop Forthcoming Development Projects, which include real estate development at Amritsar, Punjab; real estate redevelopment project at Dadar-Matunga, Mumbai; agro processing cluster at Jalore, Rajasthan; cold storage park/facilities at Indore, Madhya Pradesh; and a wellness centre & resort at Chiplun, Maharashtra.
Under Management Services vertical, the Company provides services for the annual maintenance of the Delhi Police Headquarters.
The Company clocked a profit after tax and non-controlling interest grew 32.55% to ₹4,051.55 lakhs in the financial year FY22 against ₹3,056.67 lakhs in FY21, whereas revenue from operations during the year FY22 stood at₹19,935.20 lakhs. Further, the Profit for the nine-months period ended December 2022 stood at ₹2,863.52 lakhs.
IDBI Capital Markets & Securities Limited is the sole book running lead manager and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.
Disclaimers: PKH VENTURES LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a draft red herring prospectus dated March 22, 2022 (‘the DRHP’) with Securities and Exchange Board of India(‘SEBI”) and a red herring prospectus dated June 21,2023 (‘RHP”) with the RoC. The RHP shall be made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e., IDBI Capital Markets & Securities Limited at www.idbicapital.com, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see ‘Risk Factors’ beginning on page 31 of the RHP. Potential investors should not rely on the DRHP for any investment decision.
The Equity Shares have not been and will not be registered under the U.S. Securities Act or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold outside the United States in off shore transactions incompliance with Regulations under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.
DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised or refer to page 395 of the RHP for the full text of the disclaimer clause of SEBI.
DISCLAIMER CLAUSE OF BSE: The Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 397 of the RHP for the full text of the disclaimer clause of BSE.
DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 398 of the RHP for the full text of the disclaimer clause of NSE.