Highway Infrastructure IPO listing: Highway Infrastructure shares made a solid stock market debut, listing at up to 67% premium on both the BSE and the NSE. On the BSE, the Highway Infrastructure share price was listed at ₹117, a premium of 67.14% over the initial public offering (IPO) price of ₹70. On the NSE, the Highway Infrastructure stock debuted at ₹115, up 60% over the issue price.
Highway Infrastructure IPO listing was above expectations as the latest GMP (grey market premium) was at ₹24, hinting at nearly 33% listing pop.
Highway Infrastructure IPO Details
The strong listing coincided with the stellar response for the Highway Infrastructure IPO. The issue was subscribed 316.64 times at the end of the three-day bidding process. The retail portion was booked 164.48 times, the NII quota 473.10 times and the QIB segment 432.71 times.
The ₹130 crore Highway Infrastructure IPO was a mix of a fresh issue of ₹97.52 crore and the offer for sale of ₹32.48 crore.
The company plans to use the funds raised for funding working capital needs and general corporate purposes.
