Highway Infrastructure IPO garnered strong investor interest as the share sale concluded today in the primary market.
The initial public offer (IPO) of Highway Infrastructure received bids for over 482 crore shares against 1.60 crore shares on offer, translating into 300.61 times subscription, as per the NSE data.
The non-institutional investors category was booked 447.32 times while the retail individual investors' quota was subscribed 155.58 times. The qualified institutional buyers' portion received 420.57 times subscription. Earlier, it raised Rs 23.40 crore from anchor investors, including HDFC Bank and Abans Finance Pvt Ltd.
Highway Infra IPO GMP Today News
According to websites tracking the grey market activities, the shares of Highway Infra are commanding a GMP of over 57 percent in the grey market. Investorgain quoted a GMP of Rs 40 for the shares of the company, indicating a listing gain of 57.14 percent.
The Rs 130-crore IPO will concludes on August 7. The price band has been fixed at Rs 65-70 per share.
Incorporated in 1995, Highway Infrastructure Ltd (HIL) is engaged in tollway collection, EPC (Engineering, Procurement, and Construction) projects, and real estate development. The Indore-based company specialises in the construction and maintenance of roads, highways, bridges, and residential projects.
Highway Infra shares will be listed on the BSE and NSE on August 12, while the allotment is expected by August 8.
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