Latest news with #AnoopAgarwal
Business Standard
2 days ago
- Business
- Business Standard
Highway Infrastructure IPO ends with 300.61x subscription
The offer received bids for 4.82 crore shares as against 1.60 crore shares on offer. The initial public offer of Highway Infrastructure received bids for 4,82,27,63,700 shares as against 1,60,43,046 shares on offer. The issue was subscribed 300.61 times. The Non-Institutional Investors (NIIs) category was subscribed 447.32 times. The Qualified Institutional Buyers (QIBs) category was subscribed 420.57 times. The Retail Individual Investors (RIIs) category was subscribed 155.58 times. The issue opened for bidding on 5 August 2025 and it closed on 7 August 2025. The price band of the IPO is fixed between Rs 65 and 70 per share. The offer comprised a fresh issue of equity shares worth up to Rs 97.52 crore and an offer for sale (OFS) of 46,40,000 equity shares. The entire OFS portion is being offered by the promoters, with Arun Kumar Jain and Anoop Agarwal each selling 23,20,000 shares. Of the net proceeds from the fresh issue, the company proposes to utilize Rs 65 crore towards funding. The working capital requirements of the company and the balance towards general corporate purposes. Highway Infrastructure (HIL) is a Madhya Pradesh-based infrastructure development and management company, promoted by Arun K. Jain, Anoop Agarwal, and Riddharth Jain. Its core businesses include tollway collection, EPC infra projects, and real estate development. The company has completed 27 tollway projects and currently operates 4, using advanced ETC and ANPR technologies. Its EPC arm has executed over 66 projects across roads, bridges, and irrigation works under schemes like PMAY and PMGSY. HIL is also developing realty projects in Indore, including residential and integrated developments. Toll collection contributed over 77% to FY25 revenue, followed by EPC and real estate. Its order book as of May 31, 2025, stood at Rs 666.31 crore. Ahead of the IPO, Highway Infrastructure, on 4 August 2025, raised Rs 23.39 crore from anchor investors. The board allotted 33.42 lakh shares at Rs 70 each to 4 anchor investors. The firm reported a consolidated net profit of Rs 22.40 crore and sales of Rs 495.72 crore for the twelve months ended on 31 March 2025.
Business Standard
3 days ago
- Business
- Business Standard
Highway Infrastructure IPO subscribed 300.61 times
The offer received bids for 4.82 crore shares as against 1.60 crore shares on offer. The initial public offer of Highway Infrastructure received bids for 4,82,27,45,343 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 17:30 IST on Thursday (7 August 2025). The issue was subscribed 300.61 times. The issue opened for bidding on 5 August 2025 and it will close on 7 August 2025. The price band of the IPO is fixed between Rs 65 and 70 per share. An investor can bid for a minimum of 211 equity shares and in multiples thereof. The offer comprises a fresh issue of equity shares worth up to Rs 97.52 crore and an offer for sale (OFS) of 46,40,000 equity shares. The entire OFS portion is being offered by the promoters, with Arun Kumar Jain and Anoop Agarwal each selling 23,20,000 shares. Of the net proceeds from the fresh issue, the company proposes to utilise Rs 65 crore towards funding. The working capital requirements of the company and the balance towards general corporate purposes. Highway Infrastructure (HIL) is a Madhya Pradesh-based infrastructure development and management company, promoted by Arun K. Jain, Anoop Agarwal, and Riddharth Jain. Its core businesses include tollway collection, EPC infra projects, and real estate development. The company has completed 27 tollway projects and currently operates 4, using advanced ETC and ANPR technologies. Its EPC arm has executed over 66 projects across roads, bridges, and irrigation works under schemes like PMAY and PMGSY. HIL is also developing realty projects in Indore, including residential and integrated developments. Toll collection contributed over 77% to FY25 revenue, followed by EPC and real estate. Its order book as of May 31, 2025, stood at Rs 666.31 crore. Ahead of the IPO, Highway Infrastructure on Monday, 4 August 2025, raised Rs 23.39 crore from anchor investors. The board allotted 33.42 lakh shares at Rs 70 each to 4 anchor investors. The firm reported a consolidated net profit of Rs 22.40 crore and sales of Rs 495.72 crore for the twelve months ended on 31 March 2025.
Business Standard
4 days ago
- Business
- Business Standard
Highway Infrastructure IPO subscribed 72.92 times
The offer received bids for 116.98 crore shares as against 1.60 crore shares on offer. The initial public offer of Highway Infrastructure received bids for 1,16,98,86,124 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (6 August 2025). The issue was subscribed 72.92 times. The issue opened for bidding on 5 August 2025 and it will close on 7 August 2025. The price band of the IPO is fixed between Rs 65 and 70 per share. An investor can bid for a minimum of 211 equity shares and in multiples thereof. The offer comprises a fresh issue of equity shares worth up to Rs 97.52 crore and an offer for sale (OFS) of 46,40,000 equity shares. The entire OFS portion is being offered by the promoters, with Arun Kumar Jain and Anoop Agarwal each selling 23,20,000 shares. Of the net proceeds from the fresh issue, the company proposes to utilise Rs 65 crore towards funding. The working capital requirements of the company and the balance towards general corporate purposes. Highway Infrastructure (HIL) is a Madhya Pradesh-based infrastructure development and management company, promoted by Arun K. Jain, Anoop Agarwal, and Riddharth Jain. Its core businesses include tollway collection, EPC infra projects, and real estate development. The company has completed 27 tollway projects and currently operates 4, using advanced ETC and ANPR technologies. Its EPC arm has executed over 66 projects across roads, bridges, and irrigation works under schemes like PMAY and PMGSY. HIL is also developing realty projects in Indore, including residential and integrated developments. Toll collection contributed over 77% to FY25 revenue, followed by EPC and real estate. Its order book as of May 31, 2025, stood at Rs 666.31 crore. Ahead of the IPO, Highway Infrastructure on Monday, 4 August 2025, raised Rs 23.39 crore from anchor investors. The board allotted 33.42 lakh shares at Rs 70 each to 4 anchor investors. The firm reported a consolidated net profit of Rs 22.40 crore and sales of Rs 495.72 crore for the twelve months ended on 31 March 2025.
Business Standard
5 days ago
- Business
- Business Standard
Highway Infrastructure IPO subscribed 27.04 times
The offer received bids for 43.38 crore shares as against 1.60 crore shares on offer. The initial public offer of Highway Infrastructure received bids for 43,38,13,890 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (5 August 2025). The issue was subscribed 27.04 times. The issue opened for bidding on 5 August 2025 and it will close on 7 August 2025. The price band of the IPO is fixed between Rs 65 and 70 per share. An investor can bid for a minimum of 211 equity shares and in multiples thereof. The offer comprises a fresh issue of equity shares worth up to Rs 97.52 crore and an offer for sale (OFS) of 46,40,000 equity shares. The entire OFS portion is being offered by the promoters, with Arun Kumar Jain and Anoop Agarwal each selling 23,20,000 shares. Of the net proceeds from the fresh issue, the company proposes to utilise Rs 65 crore towards funding. The working capital requirements of the company and the balance towards general corporate purposes. Highway Infrastructure (HIL) is a Madhya Pradesh-based infrastructure development and management company, promoted by Arun K. Jain, Anoop Agarwal and Riddharth Jain. Its core businesses include tollway collection, EPC infra projects, and real estate development. The company has completed 27 tollway projects and currently operates 4, using advanced ETC and ANPR technologies. Its EPC arm has executed over 66 projects across roads, bridges, and irrigation works under schemes like PMAY and PMGSY. HIL is also developing realty projects in Indore, including residential and integrated developments. Toll collection contributed over 77% to FY25 revenue, followed by EPC and real estate. Its order book as of May 31, 2025, stood at Rs 666.31 crore. Ahead of the IPO, Highway Infrastructure on Monday, 4 August 2025, raised Rs 23.39 crore from anchor investors. The board allotted 33.42 lakh shares at Rs 70 each to 4 anchor investors. The firm reported a consolidated net profit of Rs 22.40 crore and sales of Rs 495.72 crore for the twelve months ended on 31 March 2025.
Time of India
04-07-2025
- Politics
- Time of India
House of gold: Indore contractor's 24-carat gold-plated villa draws fire online; triggers misuse of funds debate
Image courtesy: X A mansion in Indore, Madhya Pradesh, that is nearly covered in 24-carat gold was recently visited by content creator Priyam Saraswat, who is well-known for showcasing unusual residences in India. He demonstrated rooms with gold-coated walls, ceilings, and even switchboards in the video. A rare collection of vintage and high-end cars is also housed at the mansion. The owner, Anoop Agarwal, a government contractor who constructs roads and bridges, gave Saraswat permission to enter the residence. But there was a lot of criticism directed at the video. This was followed by a lot of anger on social media as people accused the owner of exploiting public monies for personal luxury. Saraswat consequently removed the original video. However, after being uploaded by the Kerala Congress's official Twitter account, which questioned the public's silence and called for responsibility from the wealthy contractor, the video reappeared. "Why are our bridges falling into the river and our highways collapsing?" the political party posted on X (previously Twitter). Here are the answers. A home with gold taps and switches was constructed by an Indore government contractor. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ada jeragat, terus nampak tua! Minum ni je, beli kat Guardian URUHIME MOMOKO Undo With the construction of a Gau Shala in his home, he has ED-proofed himself. The ED wouldn't want to come to this gentleman's home if they were to raid the Pani Puri Wala, who worked hard to earn 40 lakhs. Reacting to the post, a social media user wrote, 'In India, flaunting riches gets a salute, fixing roads gets a shrug. Only the Pani puri wala gets grilled for working hard." 'Will EC, ED, IT raid the house now and investigate how a government contractor can live in such a lavish villa?", said another A comment read, 'No wonder the condition of Roads in MP is pathetic." 'Why isn't ED doing anything. This man and his CM connections must be investigated immediately, " quipped another. 'That cowshed is definitely built for the video, definitely temporary," claimed in the comment box. Another person tagged income tax department and added, 'Bridges collapse even before inauguration, and roads get potholes within a year of service because of you people. You create more corruption than you stop." Anoop Agarwal described the start of his adventure in the now-deleted video. He claimed that his 25-person family only had one petrol pump, but he quickly realized that it wouldn't be sufficient to run everything. He therefore made the decision to work under a government contract. His business gradually began taking on tasks like constructing bridges, highways, and other government buildings.
