Overview

• The IPO basis of allotment has been finalised, clearing the way for Highway Infrastructure’s shares to list on the BSE and NSE on August 12.
• Investors bid for 482.27 crore shares against 1.6 crore on offer, recording a 300.61× overall subscription with QIBs at 420.57×, NIIs at 447.32× and retail at 155.58×.
• Unofficial grey market premiums have eased from a peak near Rs 40 to Rs 24, signalling robust but moderating demand ahead of listing.
• The Rs 130 crore issue combined a Rs 97.52 crore fresh issue and a Rs 32.48 crore offer-for-sale, with Rs 23.4 crore allotted to four anchor investors at the Rs 70 cap.
• In FY25, the company posted a net profit of Rs 22.40 crore on revenue of Rs 504.48 crore and holds an order book worth Rs 666.31 crore, though analysts warn of government-contract concentration and execution risks.