PKH Ventures Ltd, a construction and development, hospitality, and management services company, plans to raise up to Rs. 379.35 crore from its public issue to fund expansion plans. The company plans to use Rs. 124.11 crore for equity investment in Halaipani Hydro Power Project, Rs. 80 crore for Garuda Construction’s working capital requirement, and Rs. 40 crore for inorganic growth opportunities through acquisitions and strategic initiatives.
The public issue will open for subscription on June 30 and close on July 4, 2023.PKH Ventures Limited, founded in 2000, specializes in construction, development, hospitality, and management services. With an asset-light model, it executes civil construction works for Third Party Developer projects.
As of March 2023, the company’s third-party order book stands at Rs. 468.27 crore. The company reported total income of Rs. 245.40 crore in FY21-22 and net profit of Rs. 40.51 crore in FY22. In December 2022, it reported total income of Rs. 155.03 crore and net profit of Rs. 28.63 crore. Mr. Pravin Kumar Agarwal, Promoter, Chairman and Managing Director, PKH Ventures Ltd said, “Proceeds of the issue will further strengthen the company’s balance sheet and help fund its strategic growth initiatives.”
