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Business Standard
2 days ago
- Business
- Business Standard
Highway Infrastructure IPO ends today: Subscription nears 100x, GMP up 57%
Highway Infrastructure IPO Day 3 update, subscription status: The three-day subscription window to bid for the initial public offering of Highway Infrastructure (Highway Infrastructure IPO) is set to conclude today, Thursday, August 7, 2025. The public offering, which opened for subscription on August 5, has received an overwhelming response from investors so far. According to the NSE data, Highway Infrastructure IPO has received bids for 1,60,34,25,081 shares against 1,60,43,046 shares on offer, as of 10:30 AM on Thursday, August 7. This translates to a subscription of 99.95 times. Among the individual categories, the demand for the Highway Infrastructure IPO has been the highest among non-institutional investors (NIIs), who oversubscribed the category reserved for them by 148.04 times. This was followed by retail investors with a subscription of 90.72 times. Meanwhile, participation from qualified institutional buyers (QIBs) was the lowest, but they oversubscribed the portion reserved for them by 7.93 times. Highway Infrastructure IPO details The public offering of Highway Infrastructure consists of a fresh issue of 13.9 million equity shares aggregating up to ₹97.52 crore, and an offer for sale (OFS) with promoters Arun Kumar Jain and Anoop Agrawal divesting up to 4.6 million equity shares aggregating up to ₹32.48 crore. Highway Infrastructure IPO is available at a price band of ₹65-₹70 per share, with a lot size of 211 shares. Thus, a retail investor can bid for a minimum of 211 shares and in multiples of 211 shares thereafter, with a minimum investment amount of ₹14,770. A retail investor can bid for a maximum of 13 lots or 2,743 shares of Highway Infrastructure IPO, with an investment amount of ₹1,92,010. Check All Time Plastics IPO GMP today Highway Infrastructure IPO grey market premium (GMP) today The unlisted shares of Highway Infrastructure continued to command a solid premium in the grey market on the final day of its subscription. Highway Infrastructure shares were seen trading at around ₹110 per share, reflecting a grey market premium (GMP) of ₹40 or 57.14 per cent over the upper end of the issue price, according to sources tracking unofficial market activities. Highway Infrastructure IPO objective The company, in its red herring prospectus (RHP), will not receive any proceeds from the OFS, as the funds will go to the promoters selling their stakes. Highway Infrastructure, however, proposes to utilise the net proceeds from the public issue for funding its working capital requirements, as well as for general corporate purposes. Highway Infrastructure IPO allotment date, listing date As the public offering closes for subscription today, the basis of share allotment is slated to be finalised tentatively on August 8. The successful allottees will receive the company's shares in their demat account tentatively on August 11. Highway Infrastructure shares are scheduled to list on the BSE and NSE tentatively on August 12, 2025. Highway Infrastructure IPO registrar, BLRM Bigshare Services serves as the registrar for the public issue, while Pantomath Capital Advisors is the sole book-running lead manager. About Highway Infrastructure Highway Infrastructure (HIL) is an infrastructure development and management company. The company is engaged in the business of tollway collection, EPC Infra, and real estate. While the company's business spans various facets of infrastructure development and management, tollway collection stands out as a significant part of its business, driving its revenues and financial performance, followed by EPC Infra business, which includes executing construction development projects of various types like roads, bridges, tanks, irrigation-related construction, and civil buildings for customers.
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Business Standard
3 days ago
- Business
- Business Standard
Highway Infrastructure IPO day 2 update; subscription nears 40x, GMP up 54%
Highway Infrastructure IPO subscription status: The initial public offering (IPO) of Highway Infrastructure has received a favorable response from investors so far. The public issue, which opened for subscription on August 5, has received bids for 62,49,48,662 shares against 1,60,43,046 shares on offer, as of 11:12 PM on Wednesday, August 6. This translates to a subscription of 38.95 times. The highest demand for the Highway Infrastructure IPO, according to NSE data, came from non-institutional investors (NIIs), who over-subscribed the category reserved for them by 48.59 times. Retail investors closely followed, with a subscription of 41.56 times. Meanwhile, the participation from qualified institutional buyers (QIBs) was the lowest, yet they over-subscribed the portion reserved for them by 5.36 times. Highway Infrastructure IPO issue size, price band Highway Infrastructure IPO comprises a fresh issue of 13.9 million equity shares worth ₹97.52 crore, and an offer for sale (OFS) with promoters Arun Kumar Jain and Anoop Agrawal divesting up to 4.6 million equity shares worth ₹32.48 crore. The public issue is being offered at a price band of ₹65-₹70 per share, with a lot size of 211 shares. Thus, a retail investor can bid for a minimum of 211 shares and in multiples of 211 shares thereafter, with an investment amount of ₹14,770. A retail investor can bid for a maximum of 13 lots or 2,743 shares, with an investment amount of ₹1,92,010. Highway Infrastructure IPO grey market premium (GMP) today The unlisted shares of Highway Infrastructure continued to command a solid premium in the grey market on the second day of its subscription. Sources tracking unofficial market activities revealed that Highway Infrastructure shares were seen trading at around ₹108 per share, reflecting a grey market premium (GMP) of ₹38 or 54.29 per cent over the upper end of the issue price. Highway Infrastructure IPO objective Highway Infrastructure will not receive any proceeds from the OFS, as the funds will go to the promoters selling their stakes. The company, however, proposes to utilise the net proceeds from the public issue for funding its working capital requirements, as well as for general corporate purposes. Highway Infrastructure IPO allotment date, listing date The public offering of Highway Infrastructure will remain available for subscription until August 10. Following that, the basis of share allotment is expected to be finalised on August 8, with shares credited to successful applicants' demat accounts on August 11. Highway Infrastructure shares are scheduled to list on the BSE and NSE tentatively on August 12, 2025. Highway Infrastructure IPO registrar, lead manager For the public issue, Bigshare Services is the registrar, while Pantomath Capital Advisors is the sole book-running lead manager. About Highway Infrastructure Highway Infrastructure is an infrastructure development and management company. The company is engaged in the business of tollway collection, EPC Infra, and real estate. As of May 31, 2025, the company's consolidated order book is ₹6,66.30 crore, comprising ₹59.53 crore in tollway collection business and ₹606.77 crore in EPC Infra business.
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Business Standard
4 days ago
- Business
- Business Standard
Highway Infrastructure IPO fully booked: Subscription rises 19x, GMP at 57%
Highway Infrastructure IPO subscription status Day 1: The initial public offering (IPO) of infrastructure development company Highway Infrastructure opened for subscription today, August 5, 2025. The mainboard public issue is receiving a solid response from investors, as the issue was fully subscribed within a few hours after opening. The issue was subscribed around 18.88 times as of 2:30 PM on Tuesday, day 1 of the offering, according to data from the National Stock Exchange. 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.
Business Standard
4 days ago
- Business
- Business Standard
Highway Infrastructure IPO open today: GMP up 57%; should you subscribe?
Highway Infrastructure IPO opens for subscription: The initial public offering (IPO) of infrastructure development and management company Highway Infrastructure opens for public subscription today, Tuesday, August 5, 2025. At the upper end, the company seeks to raise ₹130 crore from the public offering. Ahead of the opening of the public offering, Highway Infrastructure successfully raised ₹23.39 crore from anchor investors in a bidding that concluded on Monday, August 4. As the public offering opens for subscription, here are the key details of the Highway Infrastructure IPO: Highway Infrastructure IPO structure Highway Infrastructure IPO is a book-built issue, which comprises a fresh issue of 13.9 million equity shares worth ₹97.52 crore, and an offer for sale (OFS) with promoters Arun Kumar Jain and Anoop Agrawal divesting up to 4.6 million equity shares worth ₹32.48 crore. Highway Infrastructure has reserved not more than 30 per cent of the net offer for qualified institutional buyers (QIBs), not less than 40 per cent for retail investors, and not less than 30 per cent for non-institutional investors (NIIs). Highway Infrastructure IPO price band, lot size The public issue of Highway Infrastructure is available at a price band of ₹65–70 per share, with a lot size of 211 shares. Thus, investors can bid for a minimum of 211 shares of Highway Infrastructure IPO and in multiples thereof. A retail investor would require a minimum of ₹14,770 to bid for one lot of Highway Infrastructure IPO, and a maximum of 13 lots or 2,743 shares, with an investment amount of ₹1,92,010. Highway Infrastructure IPO grey market premium (GMP) The unlisted shares of Highway Infrastructure were commanding a decent premium in the grey market ahead of the opening of the public issue. Sources tracking unofficial market activities revealed that Highway Infrastructure shares were seen trading at around ₹110 per share, reflecting a grey market premium (GMP) of ₹40 or 57.14 per cent over the upper end of the issue price. Highway Infrastructure IPO allotment date, listing date The three-day subscription window to bid for the Highway Infrastructure IPO is set to close on Thursday, August 7. Following the closure of the subscription window, the basis of allotment of Highway Infrastructure IPO shares is likely to be finalised on Friday, August 8. The successful allottees will receive the company's shares in their demat account on Monday, August 11. Shares of Highway Infrastructure are slated to make their D-Street debut by listing at BSE and NSE, tentatively on Tuesday, August 12. Highway Infrastructure IPO registrar, lead managers Bigshare Services is the registrar for the Highway Infrastructure IPO, while Pantomath Capital Advisors is the sole book-running lead manager. Highway Infrastructure IPO objective Highway Infrastructure will not receive any proceeds from the OFS. 'The promoter selling shareholders will be entitled to the respective portion of the proceeds of the Offer for Sale after deducting its portion of the offer-related expenses,' the company said in its Red Herring Prospectus (RHP). The company, however, proposes to utilise the net proceeds from the public issue for funding the working capital requirements of the company, as well as for general corporate purposes. Should you subscribe to Highway Infrastructure IPO? Anand Rathi Research - Subscribe for long-term Analysts at Anand Rathi Research have recommended investors to subscribe to the public issue for the long-term perspective, citing that the IPO seems fully priced. Analysts highlighted that at the upper price band, the company is valued at an FY25 P/E of 22.5x, with a post-issue market capitalisation of ₹502 crore. "It presents a niche opportunity in India's tollway and EPC infrastructure space, supported by consistent growth and a robust order book," wrote the analysts in a research report. "The use of ANPR (Automatic Number Plate Recognition) technology in toll systems provides a competitive advantage, while the combination of toll and EPC businesses offers diversified revenue streams. Considering these factors, the IPO seems fully priced, and a 'Subscribe – Long term' recommendation is suggested." About Highway Infrastructure Highway Infrastructure Limited is an infrastructure development and management company. Their business includes tollway collection, EPC infrastructure, and real estate. While the company operates across various facets of infrastructure development and management, tollway collection constitutes a significant portion of their business, driving revenues and financial performance, followed by the EPC infra-segment.
Mint
5 days ago
- Business
- Mint
Highway Infrastructure IPO opens tomorrow: GMP, issue details, 10 key things to know
Highway Infrastructure IPO opens for subscription on tomorrow (Tuesday, August 5). Highway Infrastructure Limited, founded in 1995, is an Indian firm dedicated to infrastructure development and management, particularly specializing in toll collection, EPC (Engineering, Procurement, and Construction) projects, and real estate development. The company excels in the construction and upkeep of roads, highways, bridges, and residential properties. As of May 2025, Highway Infrastructure's total orderbook was estimated at ₹ 666.3 crore, comprising ₹ 59.5 crore from the toll collection sector and ₹ 606.8 crore from the EPC infrastructure division. In the previous fiscal year, the toll collection segment represented 77 percent of the company's revenue, while the EPC infrastructure division accounted for 21 percent, with the rest coming from the real estate sector. Highway Infrastructure recorded a profit of ₹ 22.4 crore in fiscal 2025, reflecting a 4.6 percent increase from the preceding year, despite an overall revenue decline, aided by other income and operational performance. During the same period, revenue fell by 13.6 percent to ₹ 495.7 crore. According to the red herring prospectus (RHP), the company's listed competitors include Udayshivakumar Infra Ltd, IRB Infrastructure Developers Ltd (which has a P/E of 44.38), and H.G. Infra Engineering Ltd (with a P/E of 14). Highway Infrastructure IPO date: The issue opens for subscription on Tuesday, August 5 and closes on Thursday, August 7. Highway Infrastructure IPO price band: The issues' price band has been fixed in the range of ₹ 65 to ₹ 70 per equity share of face value of ₹ 5. Highway Infrastructure IPO lot size: The IPO lot size is 211 equity shares and in multiples of 211 equity shares thereafter. Anchor investors: The allocation to anchor investors for Highway Infrastructure IPO is scheduled to take place today (Monday, August 4). Highway Infrastructure IPO details: The IPO includes a new issuance of equity shares totaling ₹ 97.5 crore, as well as an offer-for-sale of 46.4 lakh shares from the promoters, Arun Kumar Jain and Anoop Agrawal. Highway Infrastructure IPO objective: The firm, involved in the development and management of infrastructure, operates in the areas of toll collection, EPC infrastructure, and real estate. It intends to set aside ₹ 65 crore from the proceeds of the fresh issue for its working capital requirements, while the rest of the funds will be used for various corporate purposes. Highway Infrastructure IPO listing date and allotment details: The basis for the allotment of shares for the Highway Infrastructure IPO is expected to be determined on Friday, August 8, and refunds will be processed by the company on Monday, August 11. On the same day as the refunds, shares will be credited to the demat accounts of the allottees. The share price of Highway Infrastructure is anticipated to debut on the BSE and NSE on Tuesday, August 12. Lead Manager and Registrar of Highway Infrastructure IPO: Pantomath Capital Advisors Pvt Ltd is the primary manager overseeing the Highway Infrastructure IPO, and Bigshare Services Pvt Ltd is responsible for acting as the registrar for this offering. Highway Infrastructure IPO reservation: The company IPO has reserved not more than 30% of the shares in the public issue for qualified institutional buyers (QIB), not less than 30% for non-institutional Institutional Investors (NII), and not less than 40% of the offer is reserved for retail investors. Highway Infrastructure IPO GMP today: Highway Infrastructure IPO GMP today is +40. This indicates Highway Infrastructure share price were trading at a premium of ₹ 40 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Highway Infrastructure share price was indicated at ₹ 110 apiece, which is 57.14% higher than the IPO price of ₹ 70. According to the grey market activities over the past 11 sessions, the IPO GMP is trending upward today and is anticipated to have a robust listing. The minimum GMP recorded is ₹ 0.00, while the maximum GMP is ₹ 40, as noted by experts from 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
