Highway Infrastructure Share Price: Infrastructure Company's Stock Makes Strong Debut List With 67% Premium On NSE and BSE

Highway Infrastructure Share Price: Highway Infrastructure shares listed on the bourses on August 12 with decent gains. Highway Infrastructure shares listed on the BSE at Rs 117 apiece with a premium of 67.14 per cent. On the other hand shares of the infrastructure development listed with a premium of 64 per cent on the NSE at Rs 115 compared to the upper end of Highway Infrastructure IPO’s price band of Rs 70 apiece. The stock soon surged over 72 per cent from the issue price to trade at an early high of Rs 120.75 apiece on the NSE.

Retail investors who were allotted at least one lot or 211 shares would have made a minimum profit of Rs 9,495 (Rs 24,265 - Rs 70 x 211) after the stock started trading on the exchange. Soon after Highway Infrastructure shares began to trade, 38.86 lakh shares of the company changed hands on the NSE. Highway Infrastructure’s total market capitalization stood at Rs 866.03 crore.

Highway Infrastructure IPO: Details

Highway Infrastructure Ltd raised Rs 130 crore through its public issue, the issue consisted completely of a fresh issuance of 1.39 crore shares amounting to Rs 97.52 crore and an offer for sale of 46 lakh shares aggregating to Rs 32.48 crore. Highway Infrastructure IPO price band was set between Rs 65 to Rs 70 per share.

The minimum lot size for application for retail investors was fixed at 1 lot consisting of 211 shares, which aggregated to an investment of Rs 14,770. Highway Infrastructure IPO was booked 300.61 times during the three-day bidding window which opened on August 5 and closed on August 7. Investors across categories placed bids for over 4.82 billion shares compared to the 16.04 million shares offered for subscription.

The non-institutional investors (NII) quota of Highway Infrastructure IPO was booked 447.32 times. The Highway Infrastructure IPO was booked 155.58 times in the retail individual investor category. The mainboard issue was booked 420.57 times in the Qualified Institutional Buyers (QIB) category.

Highway Infrastructure IPO Objective

Highway Infrastructure Ltd aims to use the funds generated through the public issue (Rs 65 crore) for financing its working capital requirements. Additionally a portion of the funds will also be utilised by the infrastructure company for funding general corporate needs.

About Highway Infrastructure Ltd

Highway Infrastructure Ltd was incorporated 30 years ago. The company is an infrastructure company which is engaged in tollway collection and providing EPC (Engineering, Procurement, and Construction) services to its client. The company also undertakes projects in real estate development.

At the time of writing shares of Highway Infrastructure shares traded at Rs 120.75 apiece up by 5 per cent on the NSE. The stock traded at Rs 122.84 apiece on the BSE up by 5 per cent at the time of writing.