Bharat Highways InvIT IPO sees 8.02 times subscription on last day of bidding

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Bharat Highways InvIT has garnered Rs 826 crore from the anchor book on February 27. Marquee investors such as HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, Societe Generale, Copthall Mauritius Investment, HDFC Life Insurance Company, and Max Life Insurance Company were among the institutional investors that participated in the anchor book.

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The proceeds of the issue will be utilised for providing loans to the project SPVs (special purpose vehicles) for repaying their outstanding loans, and general corporate purposes.

The InvIT (Infrastructure Investment Trust) assets, located in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh, consist of projects developed under the hybrid annuity model (HAM) and awarded by the National Highways Authority of India (NHAI). The revenue for these assets primarily comes from annuity payments made by NHAI.

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