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2w ago

Highway Infrastructure IPO Tops 60× Subscription on Day 2; GMP Signals Up to 57% Listing Gain

Robust demand shows investor confidence in the company's diversified infrastructure portfolio, with bidding closing on August 7 for its August 12 listing.

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Highway Infrastructure IPO
IPO
Highway Infrastructure IPO sees 61x subscription on Day 2 so far, driven by robust demand

Overview

  • As of August 6, the IPO had drawn bids amounting to 60.76× of the offer on Day 2, led by retail investors at 63.24×, NIIs at 79.22× and QIBs at 5.87×.
  • Grey market trades priced the IPO at a Rs 38–40 premium per share, implying potential listing prices of Rs 108–110 and gains near 54%–57% over the ₹70 cap.
  • The ₹130 crore issue combines a ₹97.52 crore fresh sale of 1.39 crore shares with a ₹32.48 crore offer-for-sale of 46 lakh shares, priced at ₹65–70 and sold in lots of 211 shares.
  • Proceeds will fund working capital needs and general corporate purposes across the Indore-based firm’s toll collection, EPC and real estate operations.
  • Following a Rs 23.4 crore anchor placement on August 4, share allotment is scheduled for August 8 with a tentative BSE and NSE listing on August 12.