Highway Infrastructure Limited’s Initial Public Offer (IPO) has received tremendous response from investors. The company’s IPO was 300.61 times subscribed on the last day of the stock sales on Thursday. According to PTI news, according to data from the National Stock Exchange (NSE), investors bid for 4,82,27,45,343 shares in the match of 1,60,43,046 shares under this IPO of ₹ 130 crore.
Which category gave support
If we look at the subscription of the IPO of Highway Infrastructure Limited, Non-International Investor (NII) 447.32 times, qualified Institutional Buyers (QIB) 420.57 times and retail individual investors (RII) made 155.58 Gone subscribers. Prior to Monday, the company raised ₹ 23.40 crore from anchor investors. This includes names like HDFC Bank and Abson Finance Private Limited.
Price band and issue details
In the IPO of Highway Infrastructure Limited, the company has fixed the price band ₹ 65 to ₹ 70 per share. It is a fresh issue under which 1.39 crore shares (₹ 97.52 crore) are to be sold. While 46.4 lakh shares (₹ 32.48 crore) are to be sold in the Offer for Sale (OFS). The size of this issue is ₹ 130 crore. The Highway Infrastructure Limited (HIL) established in 1995 is an Indore-based company that works in tollway collections, EPC projects and real estate development. The company specializes in the construction and maintenance of roads, highways, bridges and residential projects.
Listing and management
The share of the stock of Highway Infrastructure Limited will be on BSE and NSE. Its lead manager is Pantometa Capital Advisors, while its registrar is BigShare Services.
How much GMP is running?
According to Livemint, the IPO of Highway Infrastructure Limited is ₹ 40 today. That is, the company’s share issue price is trading in the informal market at ₹ 40 more i.e. ₹ 110 per share than ₹ 70. If this trend continues, the share listing can be at ₹ 110, which shows a premium of about 57% at the issue price.
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