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Highway Infrastructure IPO, Highway Infrastructure Subscription Status: Highway Infrastructure's initial public offering (IPO) saw strong oversubscription across all investor categories, reaching 157.68 times on the final day of the bidding process, Thursday, August 7.
According to BSE data, the IPO received bids for 2,52,96,85,541 shares against 1,60,43,046 shares available as of 12:45 pm.
Category-wise subscription
- The non-institutional investors (NII) category was subscribed 268.22 times.
- The retail individual investors (RII) portion was subscribed 116.07 times.
- The qualified institutional buyers (QIBs) quota was subscribed 16.19 times.
On Monday, the company raised Rs 23.40 crore from anchor investors, including HDFC Bank and Abans Finance Pvt Ltd.
The company has set the price band between Rs 65 and Rs 70 per share. The IPO comprises a fresh issue of 1.39 crore equity shares amounting to Rs 97.52 crore, and an offer for sale (OFS) of 46.4 lakh shares worth Rs 32.48 crore.
Financial performance
For the latest financial year, Highway Infrastructure Ltd (HIL) reported a total income of Rs 504.48 crore and a net profit of Rs 22.40 crore.
IPO lead manager, registrar details
Pantomath Capital Advisors is the sole book-running lead manager (BRLM), while Bigshare Services is acting as the registrar for the issue.
About Highway Infrastructure
Founded in 1995 and based in Indore, Highway Infrastructure Ltd (HIL) operates in toll collection, EPC (Engineering, Procurement, and Construction) projects, and real estate development. The company specialises in the construction and maintenance of roads, highways, bridges, and residential projects.
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