Highway Infrastructure IPO Sees Massive 102.75 Times Oversubscription on Final Day
By ScanX News Team
Highway Infrastructure Ltd.'s IPO concluded with a 102.75 times oversubscription. The Rs 130 crore issue, priced at Rs 65-70 per share, saw strong demand across investor categories. Non-institutional buyers led with 153.59 times subscription, followed by retail investors at 92.18 times. The company, operating in infrastructure development, toll collection, EPC projects, and real estate, plans to use the funds for working capital and corporate purposes. Share allotment is set for August 8, with listing on BSE and NSE on August 12. The grey market premium of Rs 40 suggests a potential listing price of around Rs 110.
*this image is generated using AI for illustrative purposes only.
Highway Infrastructure Ltd.'s Initial Public Offering (IPO) has concluded with a resounding success, witnessing an extraordinary oversubscription of 102.75 times on its final day. This overwhelming response underscores strong investor interest in the infrastructure sector.
IPO Details
The book-built issue, aimed at raising Rs 130 crore, comprises two components:
- Fresh issue of shares worth Rs 97.52 crore
- Offer-for-sale component of Rs 32.48 crore
The company set the price band for the IPO at Rs 65-70 per share.
Subscription Breakdown
The IPO saw enthusiastic participation across various investor categories:
| Investor Category | Subscription (times) |
|---|---|
| Non-institutional buyers | 153.59 |
| Retail investors | 92.18 |
| Qualified institutional buyers | 8.30 |
Non-institutional buyers led the demand, followed closely by retail investors, while qualified institutional buyers also showed significant interest.
Company Profile
Highway Infrastructure Ltd. operates in several key areas:
- Infrastructure development
- Toll collection
- EPC (Engineering, Procurement, and Construction) projects
- Real estate development
IPO Timeline and Listing
- Share Allotment Date: August 8
- Listing Date: August 12
- Listing Venues: BSE and NSE
Utilization of Funds
The company plans to use the proceeds from the IPO for:
- Funding working capital requirements
- General corporate purposes
Grey Market Premium
The grey market premium for Highway Infrastructure Ltd. shares stood at Rs 40, indicating investor optimism. This suggests a potential listing price of around Rs 110, representing a significant premium over the IPO price band.
The robust response to Highway Infrastructure Ltd.'s IPO reflects strong investor confidence in the company's business model and growth prospects in the infrastructure sector. As the company prepares for its market debut, all eyes will be on its performance post-listing.
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