Construction, hospitality firm PKH Ventures files draft papers for IPO

PKH Ventures, a construction and hospitality firm, has filed preliminary papers with capital markets regulator Sebi to raise funds through an IPO. The public issue comprises fresh issuance of 1.826 crore equity shares and an offer for sale (OFS) of 0.983 crore shares by its promoter. The company may also consider a pre-IPO placement of 15 lakh equity shares. The IPO proceeds will be used to invest in subsidiaries Halaipani Hydro Project Pvt Ltd and Garuda Construction, for funding long-term working capital requirements, and for funding strategic acquisitions and investments.