PKH Ventures, the construction and hospitality firm, has withdrawn its initial public offering (IPO) following tepid participation from investors, particularly from the institutional segment.

The initial share sale of PKH Ventures was subscribed only 65 per cent on the last day of subscription on Tuesday.

The IPO received bids for 1.67 crore shares, against 2.56 crore shares on offer.

While the category for non-institutional investors got fully subscribed 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.

The BRLM (book running lead manager) to PKH Ventures informed the exchange that on account of the non-fulfilment of commitment by the QIBs, pursuant to a resolution passed by the IPO committee of the company on July 4, the issuer has decided to withdraw the issue in consultation with the lead manager and registrar.

The IPO had begun on June 30 and the company planned to mop up Rs 379.35 crore from the share sale. Subscription for the share float began on June 30. The price range for the offer was fixed at Rs 140-148 per share.

Senco Gold offer

The share float of Senco Gold, the jewellery retail player, was subscribed 2.68 times on the second day of subscription on Wednesday.

The Rs 405 crore-IPO received bids for 2.52 crore shares against 94 lakh on offer.

The portion for retail individual investors received 3.67 times subscription, while the non-institutional investors segment got subscribed 3.58 times.

The QIB quota got subscribed 27 per cent.

The IPO comes at a price range of Rs 301-317 a share and it will close for subscription on Thursday.

The last day could see a rise in the participation from QIBs.

On Monday, Senco Gold said it has mobilised Rs 121.5 crore from anchor investors.