Highway Infrastructure IPO Day 2 Live: The initial public offering of Highway Infrastructure Ltd was fully subscribed within a few hours of its bidding opening on Tuesday, finishing the day with a subscription level of 27.04 times.
Investors submitted bids for 43.38 crore shares compared to the 1.60 crore shares that were available, resulting in a subscription rate of 27.04 times, as per data from the NSE.
The non-institutional investors’ segment was subscribed 33.45 times, while the Retail Individual Investors’ portion saw a subscription of 28.69 times. The Qualified Institutional Buyers’ share experienced a subscription of 4.92 times.
Highway Infrastructure Ltd secured ₹23.40 crore from anchor investors on Monday, including HDFC Bank and Abans Finance Pvt Ltd.
The ₹130-crore Highway Infrastructure IPO is set to close on Thursday, with the Highway Infrastructure IPO price band established at ₹65-70 per share.
Highway Infrastructure IPO comprises a fresh issuance of 1.39 crore shares totaling ₹97.52 crore and an offer for sale of 46.4 lakh shares worth ₹32.48 crore.
Founded in 1995, Highway Infrastructure Ltd (HIL) specializes in tollway collection, Engineering, Procurement, and Construction (EPC) projects, as well as real estate development.
(Stay tuned for more updates)
