Highway Infrastructure IPO Gets 10.39 Times Subscription Applications by Mid-Day of Day 1

Mumbai, 5 August 2025: The ₹130-crore Highway Infrastructure IPO received a total subscription of 10.39 times mid-day on Day 1 of bidding, driven primarily by high participation from retail and non-institutional investors (NIIs). Highway Infrastructure IPO opened for subscription on Tuesday, August 5, 2025, and will close on Thursday, August 7, 2025.

Retail Investors Bid with 12.87x Subscriptions

Retail investors led the response to the IPO with a subscription of 12.87 times against the allotted 72,95,988 shares, drawing bids for 9,38,91,835 shares by 12:14 PM on the first day. The retail investment value stood at approximately ₹657.24 crore, calculated at the upper end of the price band of ₹70 per share.

The Non-Institutional Investor (NII) category followed closely, getting subscribed 10.73 times so far, with total bids touching 5,87,10,117 shares for the 54,71,992 shares offered. Within the NII segment, bids above ₹10 lakh (bNII) saw a subscription of 18.05 times, while those below ₹10 lakh (sNII) were subscribed 7.07 times, indicating wide participation across ticket sizes.

Qualified Institutional Buyers (QIBs) Show Moderate Interest at 1.00x Bidding as of Midday

The Qualified Institutional Buyer (QIB) category saw a 1.00 times subscription, with bids for 21,25,614 shares against the 21,29,134 shares offered. Despite being the lowest among the investor segments, the full subscription by QIBs adds confidence to the IPO’s institutional interest.

The anchor investor portion of 33,42,856 shares had already been fully subscribed on August 4, 2025, contributing an investment of ₹23.40 crore.

Subscription Reaches 10.39x with Over 3.4 Lakh Applications in First Half of Day 1

Overall, the IPO saw 15,47,27,566 shares bid against the 1,48,97,114 shares on offer (excluding the anchor portion), translating to a subscription of 10.39 times so far. The issue has received a total of 3,40,101 applications until now.

Key IPO Details: ₹130 Crore Issue with Combination of Fresh Issue and Offer for Sale

The Highway Infrastructure IPO is a bookbuilding issue worth ₹130 crore, comprising:

• A fresh issue of 1.39 crore shares aggregating to ₹97.52 crore
• An offer for sale (OFS) of 46.40 lakh shares aggregating to ₹32.48 crore

The price band is set between ₹65 to ₹70 per share, with a lot size of 211 shares.

• Minimum investment for retail investors: ₹13,715
• Minimum lot investment for sNII (14 lots): ₹2,06,780
• Minimum lot investment for bNII (68 lots): ₹10,04,360

The issue is being managed by Pantomath Capital Advisors Pvt Ltd as the book-running lead manager, while Bigshare Services Pvt Ltd is acting as the registrar. The IPO is proposed to be listed on both the BSE and NSE.

IPO Timelines to Watch: Allotment by August 8, Listing on August 12

• IPO Open Date: Tuesday, August 5, 2025
• IPO Close Date: Thursday, August 7, 2025
• Basis of Allotment: Friday, August 8, 2025
• Refund Initiation & Demat Credit: Monday, August 11, 2025
• Tentative Listing Date: Tuesday, August 12, 2025
• UPI Mandate Cut-Off: 5 PM on August 7, 2025

Proceeds to Fund Infrastructure Development and General Corporate Needs

The proceeds from the fresh issue will be used primarily for:

• Funding capital expenditure for infrastructure development projects
• Repayment/prepayment of certain borrowings
• General corporate purposes

Highway Infrastructure Ltd: 30-Year Track Record in Roads, Highways and Real Estate

Highway Infrastructure Ltd (HIL), incorporated in 1995, is an Indian infrastructure company engaged in EPC (Engineering, Procurement and Construction) contracts, toll collection, and real estate development. The company is involved in the construction and maintenance of roads, highways, and bridges, along with residential and commercial development.

With nearly three decades of experience, HIL has built a diversified portfolio of infrastructure assets and continues to participate in public-private partnerships across India.

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