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Economic Times
5 days ago
- Business
- Economic Times
Highway Infrastructure IPO subscribed over 3x so far on Day 1; check GMP and key details
The Rs 130 crore initial public offering (IPO) of Highway Infrastructure Ltd (HIL) opened for subscription today and received a strong response right from the start. Within just the first 40 minutes of bidding, the issue was fully subscribed, with overall subscription reaching 3.70 times by 10:46 AM, according to data from the stock exchanges. ADVERTISEMENT Adding to investor enthusiasm, the IPO is also witnessing strong interest in the grey market, where shares are trading at a premium of around 50% over the issue price of Rs 70. This indicates bullish sentiment and suggests the stock could see solid listing gains. Retail Individual Investors (RIIs) showed strong interest, subscribing to 5.06 times the allocated quota of 78.57 lakh shares. This reflects healthy participation from small investors, who are often seen as key sentiment drivers for IPOs. Non-Institutional Investors (NIIs), including high-net-worth individuals (HNIs), also responded positively, subscribing to 3.3 times their allotted 58.92 lakh there were no bids from Qualified Institutional Buyers (QIBs) at that time. QIB participation typically picks up later in the bidding window, especially closer to the IPO's closing day. The Rs 130 crore IPO of Highway Infrastructure Ltd (HIL), a company with nearly three decades of experience in toll collection and EPC infrastructure execution, opened for subscription on Tuesday. The issue, which closes on August 7, is priced in the range of Rs 65–70 per share. The stock is scheduled to list on the NSE SME platform on August 12. ADVERTISEMENT The IPO comprises a fresh issue of Rs 97.5 crore and an offer for sale of Rs 32.5 crore, aggregating to 1.86 crore shares. Bids can be placed in lots of 211 shares, translating into a minimum retail investment of Rs 14,770 at the upper price band. HIL operates primarily in tollway collection and EPC infrastructure projects, with a smaller presence in real estate development. As of May 2025, its consolidated order book stood at Rs 666.3 crore, with over 90% of it coming from its core toll and EPC segments. ADVERTISEMENT The company has completed 27 tollway projects and is currently operating four, including ANPR-enabled tolling on the Delhi-Meerut has executed 66 EPC projects to date, with 24 more underway. While the company's stronghold is in Madhya Pradesh, its operations span 11 states and one Union Territory. ADVERTISEMENT HIL reported a net profit of Rs 22.4 crore in FY25, up 4.6% year-on-year, on revenue of Rs 495.7 crore. The EBITDA margin stood at 6.3%, with a PAT margin of 4.5%. The post-issue P/E comes to 22.5x, translating into a market cap of Rs 502 IPO proceeds will be used to meet working capital requirements and for general corporate purposes. Pantomath Capital is the sole book-running lead manager, while Bigshare Services is the registrar. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
5 days ago
- Business
- Economic Times
Highway Infrastructure IPO opens with strong GMP. Should you subscribe?
Highway Infrastructure Limited's IPO is set to open on Tuesday. The IPO has a strong grey market premium. The issue will close on August 7. The IPO price band is Rs 65–70 per share. The company will list on NSE SME on August 12. The IPO comprises a fresh issue and an offer for sale. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Should you subscribe? The Rs 130 crore IPO of Highway Infrastructure (HIL), a company with nearly three decades of experience in toll collection and EPC infrastructure execution , will open for subscription on Tuesday with a robust grey market premium (GMP) of 57%. The issue, which closes on August 7, is priced in the band of Rs 65–70 per share. The stock is scheduled to list on NSE SME on August IPO comprises a fresh issue of Rs 97.5 crore and an offer for sale of Rs 32.5 crore, aggregating to 1.86 crore shares. Bids can be placed in lots of 211 shares, translating into a retail minimum investment of Rs 14,770 at the upper price operates primarily in tollway collection , EPC infrastructure projects, and to a smaller extent, real estate development. As of May 2025, its consolidated order book stood at Rs 666.3 crore, with over 90% of it from its core toll and EPC company has completed 27 tollway projects and is currently operating four, including ANPR-enabled tolling on the Delhi-Meerut Expressway Over the years, it has executed 66 EPC projects, with 24 more underway. The company's stronghold lies in Madhya Pradesh but extends to 11 states and one Union reported a FY25 net profit of Rs 22.4 crore, up 4.6% YoY, on revenues of Rs 495.7 crore. The EBITDA margin stood at 6.3%, with a PAT margin of 4.5%. Its post-issue P/E comes to 22.5x, translating into a market cap of Rs 502 proceeds will be used to meet working capital needs and for general corporate purposes. Pantomath Capital is the sole book-running lead manager, and Bigshare Services is the by steady financials, technological adoption in tolling (such as FASTag and ANPR), and government tailwinds in infrastructure, the issue has been rated 'Subscribe for Long Term' by Anand Rathi : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
