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Mint
an hour ago
- Business
- Mint
Highway Infrastructure IPO day 3 Live: GMP, subscription status to review. Apply or not?
Highway Infrastructure IPO day 3: The initial public offering (IPO) of Highway Infrastructure Limited opened on 5 July 2025 and will remain open until 7 August 2025. This means investors have just one day to apply for the public issue. The Indian infrastructure company has declared the Highway Infrastructure IPO price band at ₹ 65 to ₹ 70 per equity share. The company aims to raise ₹ 130 crore from this fresh capital-cum offer for sale. The public issue is proposed for listing on the BSE and the NSE. According to the Highway Infrastructure IPO subscription status, the public offer received a strong response from investors. It had been subscribed to its offer nearly 73 times after bidding on day 2. Meanwhile, company shares are available in the grey market at a robust premium. According to market observers, Highway Infrastructure shares are available at a premium of ₹ 41 in the grey market today. This is ₹ 3 higher than Wednesday's Highway Infrastructure IPO GMP of ₹ 38. Observers said that the Highway Infrastructure IPO GMP has surged despite the sell-off in the secondary market on Wednesday. They expected further improvement in the grey market sentiment regarding the Highway Infrastructure IPO once there is a trend reversal on Dalal Street. By 5:00 PM on day 2 of bidding, the public issue had been subscribed 72.92 times, the retail portion had been booked 73.55 times, the NII portion had been filled 97.70 times, whereas the QIB segment had been booked 7.10 times. Assigning a 'subscribe' tag to the public issue, Anand Rathi says, "At the upper price band, the company is valued at a FY25 P/E of 22.5x, with a post-issue market capitalisation of ₹ 5,020 million. It presents a niche opportunity in India's tollway and EPC infrastructure space, supported by consistent growth and a robust order book. Using 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." On whether one should apply for the IPO, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, "Infra is a segment where a four-digit order book is a common phenomenon. Looking at the Highway Infrastructure IPO size of ₹ 130 crore, it seems the company has limited opportunity, and the public issue is on the borderline of SME and mainboard." Highway Infrastructure IPO allotment date is most likely on 8 August, while Highway Infrastructure IPO listing date is most likely on 12 August 2025. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
The Star
5 hours ago
- Automotive
- The Star
Barrier-free toll gantries to be introduced in next few years
Reducing hassles: A highway concessionaire has already carried out a pilot test of the MLFF system. — YAP CHEE HONG/The Star KUALA LUMPUR: Barrier-free toll gantries will be introduced via business-to-business deals among highway concessionaires without financial implications for the government, said Datuk Seri Ahmad Maslan. The Deputy Works Minister said a total of 33 toll highway operators will hold discussions with their preferred multi-lane fast flow (MLFF) provider companies over the next two years. 'The government has decided that the implementation of MLFF will be business to business,' he told the Dewan Rakyat yesterday. He was replying to Setiu MP Shaharizukirnain Abd Kadir who asked about the implementation status of the MLFF and its financial implications. The PAS leader also highlighted the Public Accounts Committee's (PAC) recommendations, saying the implementation of the MLFF would cost RM3.46bil. Affirming that there will be no costs for the government to bear, Ahmad said a Cabinet paper was presented in July on the MLFF implementation. 'The ministry remains committed to implementing toll collection via MLFF to prioritise comfort and convenience for road users. 'The direction now opens opportunities for service provider companies to directly negotiate with the 33 existing toll highway concession companies on a business-to-business basis to facilitate the implementation of the MLFF,' he said. Ahmad also disclosed that a highway concessionaire had conducted a pilot test of the MLFF with the collaboration of private companies. To a question by Tanjong Manis MP Yusuf Abd Wahab on action to be taken against toll evaders after the MLFF is introduced, Ahmad said the system would be equipped with an Automatic Number Plate Recognition (ANPR) system. The ANPR will allow the authorities to trace motorists who evaded paying toll, he added. 'Notices will also be issued to toll evaders and they might not be allowed to renew their road tax,' he said. On the issue of RFID lanes, Ahmad said the ministry, through the Malaysian Highway Authority, continuously monitored the system by ensuring that highway operators conducted fine-tuning. The deputy minister said that the government introduced an open payment toll collection system to provide more convenience to highway users. Meanwhile, he said potholes reported to the ministry via the MyJalan mobile app must be repaired by local authorities within 24 hours. 'The turnaround time to patch damaged roads under the Works Ministry is 24 hours and other authorities are also required to fix the road within the same timeframe. 'Complaints on other damages will be resolved within 15 days,' he said in reply to Batang Lupar MP Mohamad Shafizan Kepli. Ahmad said that from August 2023 to June 2025, 39,371 complaints were received through the app. Of these, 11,959 complaints were related to federal roads, with the remaining under state governments, local authorities and other agencies.
Irish Independent
18 hours ago
- Irish Independent
Carlow gardaí seize uninsured cars at checkpoint
This week, the Carlow roads policing unit were conducting a checkpoint on the Tullow Road in Carlow town as part of their 'ongoing commitment to keeping roads safe'. During the checkpoint, an Automatic Number Plate Recognition (ANPR) alert was received in relation to an uninsured vehicle. Gardaí stopped the vehicle and it was subsequently seized under the Road Traffic Act. While awaiting the arrival of the recovery truck, a second ANPR alert flagged another vehicle, also uninsured. That vehicle was also stopped and seized by gardaí. "Two uninsured vehicles taken off the road in quick succession,' said a garda spokesperson. "A timely reminder, if you drive an uninsured vehicle, you will be stopped your vehicle will be seized and you will receive a two year driving disqualification on court conviction. "This can have not only personal consequences but will impact career choices.'
New Straits Times
a day ago
- Business
- New Straits Times
'Business-to-business deals for Multi-Lane Fast Flow system, no cost for govt'
KUALA LUMPUR: There will be no financial implications for the government in implementing the Multi-Lane Fast Flow (MLFF) system, the Dewan Rakyat heard today. Deputy Works Minister Datuk Seri Ahmad Maslan said the cabinet made this decision after the termination of an appointment between the government and the proposed company last December. He said the ministry was committed to implementing the MLFF toll collection system to prioritise the comfort and convenience of highway users. "On July 25, the ministry presented a cabinet paper on a new direction for the implementation of MLFF. "One of the key points is that service providers can now engage directly with 33 toll concessionaires on a business-to-business basis to facilitate implementation. "The second point is that the system will be implemented without any financial implications for the government. "The government has decided that this matter will be resolved on a business-to-business basis and there will not be a single cent of financial implication for the government. "As such, the issue of how many billions it will cost does not arise as the government will not bear any equipment or infrastructure costs when the MLFF system is implemented at 33 toll plazas," he said during the question-and-answer session at the Dewan Rakyat today. He was responding to a question by Shaharizukirnain Abd Kadir (PN-Setiu) on the status of the MLFF system and planned improvements for it. In February, the Public Accounts Committee (PAC) recommended that the ministry and the Malaysian Highway Authority conduct a more detailed cost-benefit analysis for the MLFF project. PAC chairman Datuk Mas Ermieyati Samsudin had said the committee concluded that implementing the MLFF system would not fully resolve traffic congestion on toll highways. In response, the ministry said the MLFF system, to be implemented by PLUS Malaysia Bhd, would be an independent initiative by the highway concessionaire. Previously, implementing the MLFF system was estimated to cost RM3.46 billion. Commenting further, Ahmad said the government had set a two-year timeframe for the implementation of the MLFF system. "All 33 toll concessionaires are free to engage with any company they want to work with." On the issue of tailgating, he said additional enforcement mechanisms might be introduced to address this. He said the ministry was mulling restricting road tax renewals for motorists who evade toll payments once the MLFF system was implemented. "With MLFF, user discipline will be essential. We will use RFID technology and Automatic Number Plate Recognition.
Mint
a day ago
- Business
- Mint
Highway Infrastructure IPO Day 2 Live Updates: Issue booked 32x so far amid strong GMP trend — Should you apply?
06 Aug 2025, 12:05 PM IST Entered into a joint development agreement for the construction and development of a colonial area on company-owned land—'Karuna Sagar Project', measuring 2.689 hectares (6.64 acres), situated at Kanadia Road, Indore, Madhya Pradesh. 2013 Commenced construction and development of the 'Newwyork City Project' on company-owned land measuring 5.2510 hectares (12.987 acres), located in Village Nihalpur, Indore, Madhya Pradesh. Converted from a Private Limited Company to a Public Limited Company. Name changed from 'Highway Infrastructure Private Limited' to 'Highway Infrastructure Limited'. Constructed houses and infrastructure across various slum localities in Indore under the PMAY (Pradhan Mantri Awas Yojana) scheme to support affordable housing. Executed the company's first toll collection project at Daroda Fee Plaza on the Borkhedi–Wadner Section of NH-7 in Maharashtra. Won the tender to manage user fee collection at the Mokha Fee Plaza, part of the Gandhidham (Kandla)–Mundra Port road, Gujarat. Deployed ANPR (Automatic Number Plate Recognition) technology at toll plazas on the Delhi–Meerut Expressway, becoming an early adopter of advanced tolling systems. Secured a tollway collection project in Rolla Village, Telangana, marking the company's first operational entry into Southern India. 06 Aug 2025, 11:32 AM IST Highway Infrastructure IPO Day 2 Live: Pantomath is the book-running lead manager to the issue, while Bigshare Services is the registrar to the issue. 06 Aug 2025, 11:09 AM IST • Funding Working Capital requirements of the company. • General corporate purposes. 06 Aug 2025, 10:46 AM IST Highway Infrastructure IPO Day 2 Live: At the upper price band, the company is valued at an FY25 P/E of 22.5x, with a post-issue market capitalization of ₹ 5,020 million. It presents a niche opportunity in India's tollway and EPC infrastructure space, supported by consistent growth and a robust order book. 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 appears fully priced, and a 'SUBSCRIBE – LONG TERM' recommendation is suggested. 06 Aug 2025, 10:17 AM IST Highway Infrastructure IPO Day 2 Live: The issue was booked 32x so far on the second day of the bidding process. Here's how different quotas were booked: QIB: 5.04x NII: 40.54x Retail: 33.85x 06 Aug 2025, 10:00 AM IST The bidding for Highway Infrastructure IPO opened for the second day. The issue witnessed solid demand on first day, managing to sail through within 15 mins. Investors can apply for the IPO today, with the issue set to close tomorrow. 06 Aug 2025, 09:38 AM IST Highway Infrastructure IPO Day 2 Live: The issue is priced in the range of ₹ 65-70 per share. Investors can apply for the Highway Infrastructure IPO for 211 shares in one lot and multiples thereof. 06 Aug 2025, 09:29 AM IST Highway Infrastructure IPO Day 2 Live: Highway Infrastructure IPO is a mix of fresh share sale of ₹ 97.5 crore and an offer for sale of ₹ 32.5 crore. The company is looking to raise a total of ₹ 130 crore. 06 Aug 2025, 09:26 AM IST At the end of the first day of the bidding process, the Highway Infrastructure IPO was subscribed 27.04 times. The issue witnessed bids for 43,38,14,101 shares as against 1,60,43,046 shares on offer. The retail portion was subscribed 28.69 times, the NII portion 33.45 times and the QIB portion 4.92 times. 06 Aug 2025, 09:24 AM IST Highway Infrastructure IPO GMP today is +38. This indicates Highway Infrastructure share price were trading at a premium of ₹ 38 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 ₹ 108 apiece, which is 54.29% higher than the IPO price of ₹ 70. According to the grey market activities over the past 13 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.
