Highway Infrastructure Ltd. is set to make its stock market debut on August 12, with shares listing on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company's Initial Public Offering (IPO) has garnered significant attention from investors, reflecting strong market sentiment.

IPO Oversubscription Highlights Strong Demand

The IPO of Highway Infrastructure Ltd. witnessed overwhelming investor response, with the issue being oversubscribed by more than 300 times. The company received bids for over 482.27 crore shares against the 1.6 crore shares on offer, indicating robust investor confidence in the company's prospects.

Segment-wise Subscription Details

The subscription details across various investor categories underscore the broad-based interest in the IPO:

Grey Market Premium Signals Positive Listing

The grey market, often considered an indicator of investor sentiment, is showing a premium of Rs 24.00 for Highway Infrastructure shares. This suggests an expected listing price of Rs 94.00 per share, representing a potential 34.29% premium over the upper price band of Rs 70.00 set for the IPO.

IPO Details and Fund Utilization

The Rs 130.00 crore IPO comprised two components:

• A fresh issue of Rs 97.52 crore
• An offer-for-sale (OFS) of Rs 32.48 crore

The company plans to utilize the proceeds from the fresh issue for working capital requirements and general corporate purposes, which could potentially strengthen its operational capabilities.

Investor Outlook

The strong oversubscription across all investor categories, particularly the high interest from Qualified Institutional Buyers and Non-Institutional Investors, suggests a positive outlook for Highway Infrastructure Ltd. The retail portion's oversubscription of 155.58 times also indicates significant interest from individual investors.

As the listing date approaches, market participants will be closely watching Highway Infrastructure Ltd.'s stock market debut, given the impressive IPO performance and the positive grey market premium.

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:

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.