PKH Ventures withdraws IPO amid disappointing participation from investors
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PKH Ventures has withdrawn its Initial Public Offering (IPO) amid disappointing participation from investors, particularly from institutional buyers, over a three-day period. The initial share sale of PKH Ventures was subscribed just 65 per cent on the last day of subscription on July 4, 2023.
The IPO received bids for 1,67,25,800 shares, against 2,56,32,000 shares on offer. While the category for non-institutional investors got fully subscribed by 1.67 times, the Retail Individual Investors (RIIs) quota received 99 per cent subscription. However, the portion for Qualified Institutional Buyers (QIBs) got only 11 per cent subscription. Hence the IPO of PKH Ventures will be treated as withdrawn. The IPO had begun on Jun 30, 2023 and the company planned to mop-up Rs 379.35 crore from the share sale. The price range for the offer was fixed at Rs 140-148 a share.
PKH Ventures manages restaurants, bars, food stalls, lounges, parking spaces, ticket counters, etc, at airports.
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