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Highway Infrastructure IPO fully booked: Subscription rises 19x, GMP at 57%
The issue received bids for 302.7 million equity shares compared to the issue size of 16.04 million shares. The demand was primarily driven by non-institutional investors (NIIs) who subscribed to the allotted quota by 22.32 times, followed by retail investors at 20.78 times. However, the portion booked for qualified institutional buyers (QIBs) was booked only 3.47 times.
Highway Infrastructure IPO GMP
On Tuesday, the unlisted shares of Highway Infrastructure were trading at ₹110, commanding a premium of ₹40 or 57 per cent compared to the upper end of the price band of ₹65 to ₹70.
Highway Infrastructure IPO review
Highway Infrastructure IPO details
The three-day subscription window for the initial public offering will close on Thursday, August 7, 2025. The basis of allotment of shares is likely to be finalised on Friday, August 8, 2025. Shares of Highway Infrastructure will be listed on the bourses, BSE and NSE, tentatively on Tuesday, August 12, 2025.
Highway Infrastructure IPO, worth ₹130 crore, comprises a fresh issue of 13.9 million equity shares and an offer for sale (OFS) of 4.6 million equity shares. Arun Kumar Jain and Anoop Agrawal are the promoter selling shareholders.
The company has reserved around 30 per cent of the issue for qualified institutional buyers (QIBs), 40 per cent for retail investors and 30 per cent for non-institutional investors (NIIs).
Highway Infrastructure has set the price band in the range of ₹65 to ₹70 per share. Retail investors would require a minimum investment amount of ₹14,770 shares to bid for one lot comprising 211 shares each.
Bigshare Services is the registrar for the issue. Pantomath Capital Advisors is the sole book-running lead manager.
According to the red herring prospectus (RHP), the company proposes to utilise the net fresh issue proceeds for working capital requirements and general corporate purposes.
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