Highway Infrastructure IPO
Highway Infrastructure IPO
Overview
Highway Infrastructure IPO is a bookbuilding of ₹130.00 crores. The issue is a combination of fresh issue of 1.39 crore shares aggregating to ₹97.52 crores and offer for sale of 0.46 crore shares aggregating to ₹32.48 crores. Highway Infrastructure IPO opens for subscription on August 5, 2025 and closes on August 7, 2025. The allotment for the Highway Infrastructure IPO is expected to be finalized on Friday, August 8, 2025. Highway Infrastructure IPO will be list on BSE, NSE with a tentative listing date fixed as Tuesday, August 12, 2025. Highway Infrastructure IPO price band is set at ₹65 to ₹70 per share. The lot size for an application is 211. The minimum amount of investment required by an retail is ₹13,715 (211 shares). The lot size investment for sNII is 14 lots (2,954 shares), amounting to ₹2,06,780, and for bNII, it is 68 lots (14,348 shares), amounting to ₹10,04,360. Pantomath Capital Advisors Pvt Ltd is the book-running lead manager of the Highway Infrastructure IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. Refer to Highway Infrastructure IPO RHP for detailed information.
Total Shares
1,85,71,428
Issue Size
₹130.00 Cr
Price Band
₹70 – ₹70
Lot Size
211 shares
Min. Investment
₹14,770
Max. Investment
₹1,92,010
Open Date
05 Aug, 2025
Close Date
07 Aug, 2025
Allotment
08 Aug, 2025
Listing
12 Aug, 2025
Max. Investment
₹1,92,010
Announced
05 Aug, 2025
Opening Date
05 Aug, 2025
Closing Date
07 Aug, 2025
Basis of Allotment
08 Aug, 2025
Initiation of Refunds
11 Aug, 2025
Credit of Shares
11 Aug, 2025
Listing Date
12 Aug, 2025
Live GMP
Est. Listing: ₹106
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About Highway Infrastructure IPO
Highway Infrastructure Limited (HIL), incorporated in 1995, is an Indian infrastructure development and management company engaged in tollway collection, EPC (Engineering, Procurement, and Construction) projects, and real estate development. The company specializes in the construction and maintenance of roads, highways, bridges, and residential projects.
Business Segments:
- Tollway Collection Business:
- HIL operates and manages tollway collection systems for highway
Highway Infrastructure IPO Share Price
Issue Breakdown
Shareholding
Dilution: 24.1% increase in shares
Highway Infrastructure IPO Promoters Holding
Highway Infrastructure IPO Financial Health
Highway Infrastructure IPO Lot Size
Investors can bid for a minimum of 211 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 211 | ₹14,770 |
| Retail (Max) | 13 | 2743 | ₹1,92,010 |
| S-HNI (Min) | 14 | 2954 | ₹2,06,780 |
| S-HNI (Max) | 67 | 14137 | ₹9,89,590 |
| B-HNI (Min) | 68 | 14348 | ₹10,04,360 |
(All values in CR)
Highway Infrastructure IPO Valuations
| Metric | Value |
|---|---|
| ROE | 21.37% |
| ROCE | 24.45% |
| Debt/Equity | 0.69 |
| RoNW | 21.37% |
| PAT Margin | 3.71% |
(All values in CR)
Highway Infrastructure IPO Strength & Risk
Highway Infrastructure IPO Strength:
Nearly 30 years of experience in toll operations and EPC infrastructure across 11 states and one Union Territory.
Early adopter of ANPR technology for toll collection on Delhi–Meerut Expressway, supporting digital and contactless tolling.
Order book ₹596 crore as of Aug 2024: ₹315 crore toll + ₹281 crore EPC.
Strong recent financial performance: FY 2024 revenue ₹573–576 crore (+26%), PAT ₹21.4 crore (+55%), EBITDA margin 6.7%
Comfortable financial metrics: debt/equity 0.55–0.75×, interest coverage 5×, net cash accrual to debt 0.43×, current ratio 1.57.
Diversified business model: includes toll, EPC, and some real estate/service activities (e.g. leasing, sale of surplus materials).
Highway Infrastructure IPO Risk:
Tender-based business: intense competition may force aggressive bids, compressing margins.
High working capital requirement: EPC segment net gross current assets 200 days; deposits, retention money and inventory-heavy.
Business scale is modest relative to large infra peers; toll contributes >75% to revenue, limiting overall margin uplift without EPC growth.
Exposure to seasonal and macro fluctuations: raw‑material price hikes, fuel and labour costs, weather disruptions may impact cash flows and execution cycles.
Dependence on government clients (e.g. NHAI) and policy/regulatory stability; delays or change in capex priorities could affect business.
Highway Infrastructure IPO Subscriptions Status
Highway Infrastructure IPO subscribed 316.64 times. The public issue subscribed 164.48 times in the retail category, 432.71 times in QIB, and 473.10 times in the NII category by August 7, 2025 5:04:34 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 33,42,856 | 33,42,856 | 23.4 |
| Qualified Institutions | 432.71 | 22,28,571 | 96,43,33,511 | 6 |
| Non-Institutional Buyers | 473.10 | 55,71,429 | 2,63,58,61,163 | 18 |
| bNII (bids above ₹10L) | 483.92 | 18,57,143 | 1,79,74,21,646 | 12 |
| sNII (bids below ₹10L) | 451.47 | 37,14,286 | 83,84,39,517 | 5 |
| Retail | 164.48 | 74,28,572 | 1,22,18,22,297 | 8 |
| Total | 316.64 | 1,52,28,572 | 4,64,99,51,746 | 33 |
Highway Infrastructure IPO GMP
Highway Infrastructure IPO last GMP is ₹36, last updated Aug 8th 2025 03:56 PM. With the price band of 70.00, Highway Infrastructure IPO's estimated listing price is ₹106 (cap price + today's GMP).The expected percentage gain/loss per share is 51.43%. >> Highway Infrastructure IPO Retail Subject to Sauda: ₹5800 >> Highway Infrastructure IPO Small HNI Subject to Sauda: ₹81200 The lowest GMP is ₹0.00, while the highest GMP is ₹40.00.
Last updated 08 Aug, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 08 Aug, 2025 | 70 | ₹36 | 5800/81200 | ₹106 (51.43%) | 7596 | 08 Aug, 2025 |
| 07 Aug, 2025 | 70 | ₹36▼ | 5800/81200 | ₹106 (51.43%) | 7596 | 07 Aug, 2025 |
| 06 Aug, 2025 | 70 | ₹40▲ | 6400/89600 | ₹110 (57.14%) | 8440 | 06 Aug, 2025 |
| 05 Aug, 2025 | 70 | ₹38▼ | 6100/85400 | ₹108 (54.29%) | 8018 | 05 Aug, 2025 |
| 04 Aug, 2025 | 70 | ₹40 | 6400/89600 | ₹110 (57.14%) | 8440 | 04 Aug, 2025 |
| 03 Aug, 2025 | 70 | ₹40 | 6400/89600 | ₹110 (57.14%) | 8440 | 03 Aug, 2025 |
| 02 Aug, 2025 | 70 | ₹40▲ | 6400/89600 | ₹110 (57.14%) | 8440 | 02 Aug, 2025 |
| 01 Aug, 2025 | 70 | ₹34▲ | 5500/77000 | ₹104 (48.57%) | 7174 | 01 Aug, 2025 |
| 31 Jul, 2025 | 70 | ₹31▲ | 5000/70000 | ₹101 (44.29%) | 6541 | 31 Jul, 2025 |
| 30 Jul, 2025 | 70 | ₹25 | 4000/56000 | ₹95 (35.71%) | 5275 | 31 Jul, 2025 |
| 29 Jul, 2025 | 0 | ₹25 | 4000/56000 | ₹95 (35.71%) | 5275 | 29 Jul, 2025 |
| 28 Jul, 2025 | 70 | ₹25 | 4000/56000 | ₹95 (35.71%) | 5275 | 28 Jul, 2025 |
| 27 Jul, 2025 | 70 | ₹25 | 4000/56000 | ₹95 (35.71%) | 5275 | 27 Jul, 2025 |
| 26 Jul, 2025 | 0 | ₹25▲ | 4000/56000 | ₹95 (35.71%) | 5275 | 26 Jul, 2025 |
| 25 Jul, 2025 | 0 | ₹0 | - | ₹70 (0.00%) | - | 25 Jul, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Highway Infrastructure IPO
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Go to IPO Section
Find Highway Infrastructure IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.