Highway Infrastructure IPO is a fully book-built public offering with a total issue size of ₹130 crores. The Highway Infrastructure IPO includes a fresh issue of ₹97.52 crores and an offer-for-sale (OFS) of ₹32.48 crores by promoters.
The Highway Infrastructure IPO opens for subscription on August 5, 2025 and closes on August 7, 2025. Anchor investor bidding is scheduled for August 4, 2025.
The basis of allotment for the Highway Infrastructure IPO is expected to be finalized by August 8, 2025, with refunds and demat credit on August 11, 2025.
The IPO is planned to list on both the BSE and NSE on August 12, 2025.
The price band is set between ₹65 and ₹70 per share. The minimum lot size for retail investors is 211 shares, totaling approximately ₹14,770 per application.
Highway Infrastructure Limited, a leading EPC and infrastructure company, has a strong order book of ₹666.3 crores as of May 2025 and reported a profit of ₹21.41 crores in FY24. The registrar is Bigshare Services Private Limited, and the lead manager is Pantomath Capital Advisors Pvt Ltd.
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IPO Schedule
| IPO Open Date | Tuesday, 05 Aug, 2025 |
|---|---|
| IPO Close Date | Thursday, 07 Aug, 2025 |
| IPO Allotment Date | Friday, 08 Aug, 2025 |
| Refund Initiation | Monday, 11 Aug, 2025 |
| Share credit in Demat | Monday, 11 Aug, 2025 |
| Listing Date | Tuesday, 12 Aug, 2025 |
Key Details
| Price Band | ₹65 to ₹70 Per Share |
|---|---|
| Lot Size | 211 Shares |
| Face Value | ₹5 Per Equity Share |
| Total Issue Size | ₹130.00 Crores |
| Fresh Issue | ₹97.52 Crores |
| OFS Issue | ₹32.48 Crores |
| Issue Type | Fresh Offer and Offer for Sale |
| Listing At | NSE, BSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 50% |
| Retail | 35% |
| NII/HNI | 15% |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 211 | 14,770 |
| Retail (Max) | 13 | 2743 | 192,010 |
| S-HNI (Min) | 14 | 2954 | 206,780 |
| S-HNI (Max) | 67 | 14137 | 989,590 |
About Highway Infrastructure Limited Company
Highway Infrastructure Limited is an infrastructure development and management company engaged in toll way collection, EPC Infra, and real estate. Toll way collection is a significant revenue driver. As of August 31, 2024, the consolidated Order Book stands at ₹ 596.38 crore, with ₹ 314.96 crore from tollway collection and ₹ 281.42 crore from EPC Infra business.
The company utilizes updated Electronic Tollway Collection (ETC) systems. HIL has completed 24 tollway collection projects and currently operates 7. They use in-house cost analysis and competitor evaluation for bidding.
HIL has completed 63 EPC Infra projects and has 20 projects under execution. They have completed projects in government schemes like Pradhan Mantri Awas Yojna (PMAY), Pradhan Mantri Gram Sadak Yojna (PMGSY) and Jal Jeevan Mission. HIL also develops commercial and residential properties. For FY24, revenue from operations was ₹ 573.45 crore with a PAT of ₹ 21.41 crore.
Highway Infrastructure Limited Financial Details
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 202.63 | 156.59 | 155.09 |
| Revenue | 573.45 | 455.13 | 355.03 |
| Profit After Tax | 21.41 | 13.80 | 8.52 |
| Net Worth | 100.19 | 74.81 | 63.37 |
| Reserves and Surplus | 83.54 | 64.49 | 52.84 |
| Total Borrowing | 69.62 | 63.36 | 56.76 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 3.28 | 21.37% | 17.34 | 0.69 | 21.37% | 24.45% |
Offer Objectives
The company is making a Fresh Offer of Equity Shares aggregating up to ₹10.50 crore and an Offer for Sale of up to 31,00,000 Equity Shares by the Promoter Selling Shareholders. The company will not receive any proceeds from the Offer for Sale.
The Net Proceeds from the Fresh Offer will be utilized towards:
- Funding Working Capital Requirements: ₹63 crore is allocated, with ₹30 crore deployed in Fiscal 2025 and ₹33 crore in Fiscal 2026.
- General Corporate Purposes: The amount is yet to be determined but shall not exceed 25% of the Gross Proceeds.
The company anticipates benefits from listing, enhancing visibility, brand image, and creating a public market for its Equity Shares. Working capital requirements are funded through internal accruals, bank financing, and unsecured loans. Incremental cash margins for bank guarantees contribute to the need for higher working capital.
The company intends to completely finance the Objects of the Offer from the Net Proceeds of the Offer.
Projected working capital requirements and assumptions for Fiscal 2025 and 2026 are based on factors such as order book status, work in progress, and delivery schedules. The inventory holding periods are expected to be 169 days for Fiscal 2025 and 163 days for Fiscal 2026.
Company Details
Address:
57-FA, Scheme No. 94, Pipliyahana Junction, Ring Road, Indore -452016 Madhya Pradesh, India
Phone: +91 731 4047177
Email: [email protected]
Website: http://www.highwayinfrastructure.in
IPO Registrar Details
Bigshare Services Private Limited
Phone: +91 22 6263 8200
Email: [email protected]
Website: http://www.bigshareonline.com
Offer Prospectus & Documents
Lead Managers
- Pantomath Capital Advisors Private Limited
