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Hospitality firm PKH Ventures IPO subscribed 6% on day 1 of offer
The initial share sale of construction and hospitality firm PKH Ventures got subscribed 6 per cent on the first day of subscription on Friday.
The IPO received bids for 15,59,400 shares against 2,56,32,000 shares on offer, according to NSE data.
The category for Retail Individual Investors (RIIs) received 13 per cent subscription while the portion for non institutional investors got subscribed 10 per cent.
The public issue of up to 2,56,32,000 equity shares of face value of Rs 5 each has a fresh issue of up to 1,82,58,400 shares and an Offer for Sale (OFS) of up to 73,73,600 shares by its promoter, Pravin Kumar Agarwal.
The company through its IPO will fetch Rs 358.85 crore and Rs 379.35 crore at the lower and the upper ends of the price band, respectively.
Price range for the offer is Rs 140-148 a share.
The initial public offering (IPO) will conclude on July 4.
The Mumbai-based company has three business verticals -- construction and management, hospitality, and management ...