12-08-2025
Highway Infrastructure Share Jumps 67% On Debut, Marks Strongest Listing Gains In 2025
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Highway Infrastructure debuted strongly on BSE and NSE, opening with gains over 60%. The IPO was subscribed 300.61 times.
Highway Infrastructure Share Price: Highway Infrastructure made a strong debut on the stock exchanges, opening with gains of over 60% on both the BSE and NSE. On the BSE, the stock listed at Rs 117, marking a 67.14% premium over its IPO price of Rs 70, while on the NSE, it began trading at Rs 115, up 60%.
Highway Infra IPO Subscription Status
Highway Infrastructure Limited's initial public offering, which closed on August 7, 2025, saw an overwhelming response from investors, being subscribed 300.61 times overall. The issue received bids for 4.82 crore units against the total offer size of 1.60 crore units.
The Qualified Institutional Buyers (QIBs) portion was subscribed a massive 420.57 times, with bids for 96.43 crore units against the reserved 22.92 lakh units. Within QIBs, domestic financial institutions, including banks, FIs, and insurance companies, led the demand with bids for over 40.31 crore units, followed by others at 38.31 crore units and foreign institutional investors (FIIs) at 17.70 crore units.
The Non-Institutional Investors (NII) category attracted even higher demand, getting subscribed 447.32 times. In the segment for bids above Rs 10 lakh, the subscription stood at 457.52 times, while the Rs 2–10 lakh segment saw a subscription of 426.91 times.
Retail Individual Investors (RIIs) also participated enthusiastically, subscribing 155.58 times, with bids for 1.22 crore units against the reserved 78.57 lakh units.
Highway Infra Share Listing Today: Should you buy, sell or hold?
Narendra Solanki, Head Fundamental Research – Investment Services, Anand Rathi Shares and Stock Brokers, noted, as of May 31, 2025, the company held a consolidated order book of Rs 6,663.0 million, with Rs 595.3 million from the tollway collection segment and Rs 6,067.8 million from the EPC Infra-division.
'We expect the company to list at premium to its issue price, given the current Grey Market Premium," he said.
'At the upper price band, the company is valued at a FY25 P/E of 22.5x, with a post-issue market capitalization of Rs 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. Investors may consider booking partial profits on listing and holding the rest for long-term post listing," he added.
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