Latest news with #MadhyaPradesh-based
Business Standard
17 hours ago
- Business
- Business Standard
Highway Infrastructure spurts on debut
Shares of Highway Infrastructure were frozen at the upper limit of 5% at Rs 122.84 on the BSE, representing a premium of 75.49% compared with the issue price of Rs 70. The scrip was listed at Rs 117, exhibiting a premium of 67.14% to the issue price. So far, the stock has hit a high of Rs 122.84 and a low of Rs 116. On the BSE, over 19.87 lakh shares of the company were traded in the counter so far. The initial public offer of Highway Infrastructure was subscribed 300.61 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.
Economic Times
2 days ago
- Business
- Economic Times
Aaradhya Disposal IPO to list today; no grey market premium signals flat debut
Aaradhya Disposal is set to debut on the NSE SME platform on Monday following a moderately subscribed Rs 45.10 crore IPO. The grey market premium (GMP) is currently at zero, indicating that the stock may open around its issue price of Rs 116 per share. ADVERTISEMENT The IPO, which opened on August 4 and closed on August 6, was entirely a fresh issue of 38.88 lakh shares. It received 1.41 times subscription overall, with the qualified institutional buyers (QIB) segment leading demand at 2.51 times. Retail investors subscribed 1.46 times their portion, while the non-institutional investor (NII) category saw 1.25 times subscription. Madhya Pradesh-based Aaradhya Disposal manufactures and exports a wide range of paper products, including paper cup blanks, ripple paper, coated paper rolls, and various food-grade papers such as greaseproof and oil- and grease-resistant paper. The company operates a single manufacturing facility in Dewas, with two units having a combined installed capacity of 15,000 metric tonnes per annum. It serves both domestic and international markets, with exports to Asia and the Middle the company reported a 54% year-on-year increase in revenue to Rs 113.69 crore in FY25, while profit after tax surged 158% to Rs 10.27 crore from Rs 3.99 crore a year from the IPO will be used to meet working capital requirements (Rs 20 crore), fund expansion plans including plant and machinery purchases and civil works (Rs 15.86 crore), prepay certain term loans (Rs 1.60 crore), and for general corporate purposes. ADVERTISEMENT Despite solid growth in profitability and a diversified product range catering to high-margin biodegradable products, the absence of a GMP points to muted listing-day sentiment. (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)
Time of India
2 days ago
- Business
- Time of India
Aaradhya Disposal IPO to list today; no grey market premium signals flat debut
Aaradhya Disposal is set to debut on the NSE SME platform on Monday following a moderately subscribed Rs 45.10 crore IPO. The grey market premium (GMP) is currently at zero, indicating that the stock may open around its issue price of Rs 116 per share. The IPO, which opened on August 4 and closed on August 6, was entirely a fresh issue of 38.88 lakh shares. It received 1.41 times subscription overall, with the qualified institutional buyers (QIB) segment leading demand at 2.51 times. Retail investors subscribed 1.46 times their portion, while the non-institutional investor (NII) category saw 1.25 times subscription. Madhya Pradesh-based Aaradhya Disposal manufactures and exports a wide range of paper products, including paper cup blanks, ripple paper, coated paper rolls, and various food-grade papers such as greaseproof and oil- and grease-resistant paper. The company operates a single manufacturing facility in Dewas, with two units having a combined installed capacity of 15,000 metric tonnes per annum. It serves both domestic and international markets, with exports to Asia and the Middle East. Financially, the company reported a 54% year-on-year increase in revenue to Rs 113.69 crore in FY25, while profit after tax surged 158% to Rs 10.27 crore from Rs 3.99 crore a year earlier. Proceeds from the IPO will be used to meet working capital requirements (Rs 20 crore), fund expansion plans including plant and machinery purchases and civil works (Rs 15.86 crore), prepay certain term loans (Rs 1.60 crore), and for general corporate purposes. Despite solid growth in profitability and a diversified product range catering to high-margin biodegradable products , the absence of a GMP points to muted listing-day sentiment. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News18
3 days ago
- News18
Delhi police busts inter-state arms racket; one arrested, 10 pistols seized
Agency: PTI New Delhi, Aug 9 (PTI) Delhi Police has busted an inter-state firearms racket with the arrest of a 29-year-old man and recovered 10 semi-automatic pistols, 20 live cartridges and seven extra magazines from his possession, an official said on Saturday. Police arrested Amit Kumar, a resident of Mirzapur in Uttar Pradesh, from near Jasola, DCP (Southeast) Hemant Tiwari said. Kumar was an active member of a Madhya Pradesh-based arms racket who supplied more than 150 pistols in Delhi-NCR over the last two years, the officer said. 'In view of the upcoming Independence Day and the festive season, police had intensified surveillance on illegal arms suppliers. Acting on a tip-off, a team laid a trap and intercepted Kumar around 8.45 pm on Friday, leading to his arrest," the DCP said. During interrogation, Kumar disclosed that he procured pistols from a manufacturer-cum-supplier in Madhya Pradesh's Dhar district. He used to buy each pistol for Rs 12,000-15,000 and sell them for Rs 30,000-40,000 to criminals in Delhi-NCR and other states, the DCP said. A graduate, Kumar worked as a recovery agent with a private bank in Uttar Pradesh's Bhadohi district. He entered the arms trade after being lured by a fellow villager. Initially working as a carrier, he later developed his own network and started supplying firearms independently, the officer said. PTI BM ARI (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Standard
4 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.
