Investors broke as soon as IPO opened, got more than 27 times subscription- check- check

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Photo: Freepik Investors will get 211 shares in 1 lot under IPO

Highway infrastructure IPO: The IPO of Highway Infrastructure Limited was completely subscribed in a few hours of opening for subscription on Tuesday. By the end of the day, the IPO of the company received a total subscription of 27.04 times. According to the data available with NSE, the IPO has received bids for 43.38 crore (43,38,13,890) shares against a total of 1.60 crore (1,60,43,046) shares on the first day, i.e. 27.04 times granted. The category of non-institutional investors received 33.45 times subscription, while quota of retail investors received 28.69 times subscription. The part of the eligible institutional buyers received 4.92 times the subscription.

The company has fixed a price band of Rs 65-70

Highway Infrastructure Limited on Monday raised Rs 23.40 crore from anchor investors, including HDFC Bank and Abans Finance Private Limited. The company’s IPO of Rs 130 crore will be closed on Thursday. The company has fixed Rs 65-70 for each share band with a face value of Rs 5 for its IPO. This IPO is a mixture of new issue of 1.39 crore shares (total Rs 97.52 crore) and OFS of 46.4 lakh shares, which is priced at Rs 32.48 crore. Established in 1995, the Highway Infrastructure Limited (HIL) is engaged in tollway collection, EPC (Engineering, Purchase and Construction) Projects and Real Estate Development.

Investors will get 211 shares in 1 lot under IPO

The company in Indore specializes in the construction and maintenance of roads, highways, bridges and residential projects. The company shares will be listed on BSE and NSE. Highway infrastructure is going to raise a total of Rs 130 crore from its IPO. Under the IPO, investors will get 211 shares in a lot. Retail investors will have to invest at least Rs 14,770 for a lot. In addition, they can invest Rs 1,92,010 for a maximum of 13 lots, in which they will get a total of 2743 shares.

Disclaimer: This article has been written only for the purpose of information. Before any type of investment or before taking financial risks, consult your financial advisor. India TV will not be responsible for any type of risk.

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