PKH Ventures IPO: Issue subscribed 41% on Day 3 so far; check details
IPO Subscription Status: The initial public offering (IPO) of PKH Ventures Ltd was subscribed 41% on Day 3. The public issue that opened for subscription on Friday, June 30, will close on Tuesday, July 4. On the third day of the subscription, the issue received overall decent response from retail, non institutional investors (NIIS), and qualified institutional buyer (QIBs).
Retail investors portion was subscribed 62% and NIIS was subscribed 89%. While QIB portion was subscribed 11%, employee portion did not receive any subscription. The company has received bids for 1,04,25,700 shares against 2,56,32,000 shares on offer, at 11:55 IST, according to data from the BSE.
The retail investors' portion received bids for 56,01,900 shares against 89,71,200 shares on offer for this segment. The non-institutional investors' portion received bids for 34,35,000 shares against 38,44,800 on offer for this segment. The QIBs' portion received bids for 13,88,800 shares against 1,28,16,000 on offer for this segment.
PKH Ventures IPO sees tepid demand on Day 2, subscribed 30% The company has fixed the price band at ₹140 to ₹148 per equity share for the proposed initial public offer. Investors can bid for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter. The IPO includes a fresh offering of up to 18,258,400 shares and an offer for sale of up to 7,373,600 shares by the company's promoter, Pravin Kumar Agarwal.
Pravin Kumar Agarwal currently holds 63.69% of the firm. The proceeds of the new issue will be invested in its subsidiary Halaipani Hydro Project for the development of hydropower projects. The funds will also be used to cover long-term working capital requirements at the firm's subsidiary Garuda
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