Advertisement
Highway Infrastructure Ltd's initial public offering witnessed a massive response from investors, being subscribed nearly 73 times within the first two days of bidding. The IPO, valued at INR 130 crore, drew strong interest across all investor categories, especially from non-institutional and retail investors. The offering consists of a fresh issue and an offer for sale, and includes participation from anchor investors like HDFC Bank and Abans Finance. Highway Infrastructure, known for tollway collection, EPC projects, and real estate development, will list its shares on both BSE and NSE.
Highway Infrastructure Ltd's IPO generated significant traction this past week, with investor enthusiasm pushing the subscription tally to an impressive 72.92 times by the second day of bidding. The offering attracted bids for over 1.16 billion shares, compared to the 16 million shares on offer, according to NSE data. Advertisement
Non-institutional investors led the charge with their quota subscribed a staggering 97.70 times. Retail investors were not far behind, subscribing 73.55 times, while qualified institutional buyers subscribed 7.10 times.
Before opening the public offering, the company successfully raised INR 23.40 crore from anchor investors. The anchor book included heavyweight names like HDFC Bank and Abans Finance Pvt Ltd, signalling strong institutional faith in the company's fundamentals.
The INR 130 crore IPO includes a fresh issue of 1.39 crore equity shares worth INR 97.52 crore and an offer for sale of 46.4 lakh shares totaling INR 32.48 crore. The price band was set between INR 65 and INR 70 per share.
Founded in 1995, Indore-based Highway Infrastructure Ltd operates in toll collection, EPC contracting, and real estate development. It has a diverse project portfolio encompassing roads, highways, bridges, and residential developments.
In the most recent fiscal year, the company reported a total income of INR 504.48 crore and a net profit of INR 22.40 crore, reflecting a stable revenue stream and operational efficiency.
The company's shares are slated for listing on both the BSE and NSE. Pantomath Capital Advisors is acting as the sole book-running lead manager, while Bigshare Services is handling the registrar responsibilities for the IPO.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
