Highway Infrastructure IPO
Bookbuilding IPO | ₹130.00 Cr | Listing at BSE, NSE
IPO Open
Tue, Aug 05, 2025
IPO Close
Thu, Aug 07, 2025
Price Band
₹65.00 to ₹70.00
Market Cap (Pre-IPO)
₹502.04 Cr
IPO Details
| IPO Date | Aug 05, 2025 to Aug 07, 2025 |
| Listing Date | Tentative: Aug 12, 2025 |
| Face Value | ₹5.00 per share |
| Price Band | ₹65.00 to ₹70.00 |
| Lot Size | 211 Shares (Minimum: ₹14,770.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹130.00 Crores |
| Total Shares Offered | 18,571,428 shares |
| Fresh Issue | 13,931,428 shares |
| Offer For Sale | 4,640,000 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 6.46x |
| NII | 89.10x |
| RII | 70.45x |
| Total | 67.91x |
Highway Infrastructure IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 55,71,427 (30.00%) |
| Retail Shares Offered | 74,28,572 (40.00%) |
| NII Shares Offered | 55,71,429 (30.00%) |
Highway Infrastructure IPO Lot Size
Investors can bid for a minimum of 211 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 211 | ₹14,770 |
| Retail (Max) | 13 | 2,743 | ₹192,010 |
| S-HNI (Min) | 14 | 2,954 | ₹206,780 |
| S-HNI (Max) | 67 | 14,137 | ₹989,590 |
| B-HNI (Min) | 68 | 14,348 | ₹1,004,360 |
Highway Infrastructure Financial Information (Restated Consolidated)
Highway Infrastructure Ltd.'s revenue decreased by 13% and profit after tax (PAT) rose by 5% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 231.56 | 202.63 | 156.59 |
| Total Income | 504.48 | 576.58 | 456.83 |
| Profit After Tax | 22.40 | 21.41 | 13.80 |
| EBITDA | 31.32 | 38.44 | 27.69 |
| NET Worth | 117.72 | 100.19 | 74.81 |
| Reserves and Surplus | 83.90 | 83.49 | 64.44 |
| Total Borrowing | 71.82 | 69.62 | 63.36 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 19.03% |
| ROCE (Return on Capital Employed) | 16.56% |
| Debt/Equity | 0.61 |
| RoNW (Return on Net Worth) | 19.03% |
| PAT Margin (Profit After Tax Margin) | 4.44% |
| EBITDA Margin | 6.32% |
| Price to Book Value | 3.44 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.88 | 3.12 |
| P/E (x) | 18.06 | 22.41 |
| Promoter Holding | 94.95% | 70.04% |
Company Overview
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 projects, which are awarded through competitive bidding.
- The company is among the few toll operators using ANPR (Automatic Number Plate Recognition) technology for tollway collection on the Delhi-Meerut Expressway.
- Toll collection operations extend across 11 states and one Union Territory.
- The company employs an updated Electronic Toll Collection (ETC) system using RFID tags and digital payment platforms for seamless toll payments.
- As of August 31, 2024, HIL has completed 24 tollway collection projects and is currently operating 07 tollway collection projects.
- EPC Infra Projects:
- HIL has in-house resources to manage projects from conceptualization to completion.
- The company has experience in various infrastructure projects, including roads, bridges, tanks, irrigation-related construction, and civil buildings.
- As of August 31, 2024, HIL has completed 63 EPC Infra projects, with 20 projects currently under execution.
- Ongoing projects are being executed in Indore, Ratlam, and Khandwa in Madhya Pradesh, India.
- Real Estate:
- The real estate segment involves owning, developing, constructing, and selling commercial and residential properties.
- The company has developed gated communities and housing projects over time.
- Real estate is the smallest business segment of HIL.
Workforce:
As of August 31, 2024, HIL employs 398 individuals across its business segments.
Use of Proceeds
| 1) | Funding Working Capital Requirements of the Company. | 65.00 |
| 2) | General Corporate Purposes. | 32.52 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Highway Infrastructure IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Highway Infrastructure | 3.40 | 3.40 | 20.37 | 0.00 | 19.03 | 0.00 | - |
| Udayshivakumar Infra | -1.18 | -1.18 | 30.43 | 0.00 | -4.28 | 0.00 | - |
| IRB Infrastructure Developers | 1.12 | 1.12 | 32.83 | 44.38 | 32.69 | 0.00 | - |
| H.G. Infra Engineering | 75.04 | 75.04 | 452.62 | 14.00 | 17.13 | 17.13 | - |
Quick Info
| Sector | Infrastructure |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹502.04 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Aug 05, 2025 |
| IPO Close | Aug 07, 2025 |
| Allotment Date | Aug 08, 2025 |
| Credit to Demat | Aug 11, 2025 |
| Listing Date | Tentative: Aug 12, 2025 |
Lead Manager(s)
Pantomath Capital Advisors Pvt.Ltd.
Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
Description
- Highway Infrastructure IPO is a book build issue 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 bidding started from Aug 5, 2025 and ended on Aug 7, 2025. The allotment for Highway Infrastructure IPO was finalized on Aug 8, 2025. The shares got listed on BSE, NSE on Aug 12, 2025.
- Highway Infrastructure IPO price band is set at ₹70.00 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.