Highway Infrastructure allots Rs 23.4 crore worth shares to 4 anchor investors including HDFC Bank ahead of IPO

Highway Infrastructure IPO

Tollway operator Highway Infrastructure has raised Rs 23.4 crore from four institutional investors via anchor book on August 4, a day before its initial public offering (IPO) opening.

The Rs 130-crore IPO will open for public on August 5, and close on August 7. The price band for the offer has been fixed at Rs 65-70 per share.

The company in its filing to exchanges on Monday said it has finalised allocation of 33.4 lakh shares to anchor investors at Rs 70 per share.

VPK Global Ventures Fund has invested Rs 8.4 crore against nearly 12 lakh shares in Highway Infrastructure, while HDFC Bank, Abans Finance, and Sunrise Investment Opportunities Fund bought 7.14 lakh shares worth Rs 5 crore each.

The Madhya Pradesh-based company is raising Rs 97.52 crore via fresh issue, and Rs 32.48 crore through offer-for-sale of 46.4 lakh shares. Promoters will be offloading shares in the offer-for-sale.

The infrastructure development and management company that is involved in tollway collection, EPC infra and real estate businesses intends to spend Rs 65 crore of the fresh issue proceeds for its working capital requirements, and the remainder funds for general corporate purposes.

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Tollway collection business contributed 77 percent to its revenue and EPC infra segment 21 percent in the fiscal 2025. Revenue from operations grew at a CAGR of 4.36 percent in the fiscal 2023-2025 to Rs 495.7 crore and profit increased at a CAGR of 27.4 percent during the same period to Rs 22.4 crore in FY25.

At the end of fiscal 2025, its consolidated orderbook was Rs 666.3 crore including Rs 59.53 crore tollway collection business and Rs 606.8 crore in EPC infra business.

Pantomath Capital Advisors is the only merchant banker handling the Highway Infrastructure IPO.