Highway Infrastructure IPO
Open MainLineCurrent GMP
₹24 (+34.29%)
Price Band
₹ 65 – 70
Lot Size
211
Issue Size
₹130 Cr
Minimum Investment
₹14770 (211 Shares)
Listing Date
12 August 2025
Subscription
300.61x
About the Company
Incorporated in 1995, Highway Infrastructure Limited (HIL) is an Indian infrastructure development and management company engaged in tollway operations, EPC (Engineering, Procurement, and Construction) projects, and real estate development. The company specializes in building and maintaining roads, highways, bridges, and residential infrastructure.
Core Business Segments
1. Tollway Collection
- HIL operates and manages toll collection systems for highway projects awarded through competitive bidding.
- A pioneer in adopting ANPR (Automatic Number Plate Recognition) technology, HIL utilizes this system on the Delhi–Meerut Expressway, alongside RFID-enabled Electronic Toll Collection (ETC) and digital payment platforms.
- Toll operations span 11 Indian states and one Union Territory.
- As of August 31, 2024, HIL has:
- Completed 24 tollway collection projects
- Actively operating 7 projects
- A tollway order book worth INR 314.96 crore
2. EPC Infra Projects
- HIL executes a wide range of infrastructure works—from roads and bridges to irrigation systems and civil buildings.
- The company handles all phases of EPC projects with in-house expertise, from planning to completion.
- As of August 31, 2024:
- Completed 63 EPC projects
- 20 projects under execution
- Ongoing projects located in Indore, Ratlam, and Khandwa (Madhya Pradesh)
- EPC order book stands at INR 281.42 crore
3. Real Estate Development
- HIL engages in the development, construction, and sale of commercial and residential properties.
- The company has delivered gated communities and housing projects, although this remains its smallest business segment.
- Projects have included participation in government housing and infrastructure schemes like:
- Pradhan Mantri Awas Yojana (PMAY)
- Pradhan Mantri Gram Sadak Yojana (PMGSY)
- Jal Jeevan Mission
Workforce and Financials
- As of August 31, 2024, HIL employs 398 professionals across its business units.
- The company's consolidated order book stands at INR 596.38 crore, with major contributions from tollway and EPC segments.
Summary
Highway Infrastructure Limited has established itself as a capable and forward-looking player in India’s infrastructure sector. With a strong track record in toll operations and infrastructure development, the company continues to contribute to national development through both private and government-backed initiatives.
Promoters
- Arun Kumar Jain
- Anoop Agrawal
- Riddharth Jain
Promoters Holding
Holding Pre Issue
94.95%
Holding Post Issue
70.04%
Objects of the Issue
The Company Highway Infrastructure IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Funding Working Capital Requirements of the Company.
- General Corporate Purposes.
Address / Contact Info
Highway Infrastructure Ltd.
57-FA, Scheme No. 94,
Pipliyahana Junction,
Ring Road, Indore,
Madhya Pradesh, 452016
Phone: +91 731 4047177
Email: cs@highwayinfrastructure.in
Website: http://www.highwayinfrastructure.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 05 August 2025
IPO Close Date
Thursday, 07 August 2025
Basis of Allotment
Friday, 08 August 2025
Initiation of Refunds
Monday, 11 August 2025
Credit of Shares to Demat
Monday, 11 August 2025
Listing Date
Tuesday, 12 August 2025 — NSE & BSE
Important Dates
Open Date
05 August 2025
Close Date
07 August 2025
Basis Of Allotment
08 August 2025
Listing Date
12 August 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 231.56 | 202.63 | 156.59 |
| Revenue | 504.48 | 576.58 | 456.83 |
| Profit After Tax | 22.4 | 21.41 | 13.8 |
| Net Worth | 117.72 | 100.19 | 74.81 |
| Reserve & Surplus | 83.9 | 83.54 | 64.49 |
| Total Borrowings | 71.82 | 69.62 | 63.36 |
EPS Pre
3.88%
EPS Post
3.12%
P/E Pre
18.06
P/E (Post Issue)
22.41x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 19.03 | 21.37 | 18.45 |
| ROCE % | 16.56 | 24.45 | 19.47 |
| Debt / Equity | 0.61 | 0.69 | 0.85 |
| RoNW % | 19.03 | 21.37 | 18.45 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 4.44 | 3.71 | 3.02 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 2292914 | 14.29 | 0 |
| Non-Institutional | 5892914 | 36.73 | 0 |
| BNII | 3928610 | 24.49 | 0 |
| SNII | 1964304 | 12.24 | 0 |
| Retail Investors | 7857218 | 48.98 | 0 |
| Total | 16043046 | 100 | 0 |
Subscription Status ( Thu, 07 Aug 25 01:52 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 2292914 | 964333511 | 420.57x |
| Non-Institutional | 5892914 | 2636008863 | 447.32x |
| BNII | 3928610 | 1797421646 | 457.52x |
| SNII | 1964304 | 838587217 | 426.91x |
| Retail Investors | 7857218 | 1222421326 | 155.58x |
| Total | 16043046 | 4822763700 | 300.61x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Highway Infrastructure Ltd | 5 | 0.00 | 3.40 | 3.40 | 19.03 | 20.37 |
| Udayshivaku mar Infra Ltd | 10 | 0.00 | -1.18 | -1.18 | -4.28 | 30.43 |
| IRB Infrastructure Developers Ltd | 1 | 44.38 | 1.12 | 1.12 | 32.69 | 32.83 |
| H.G. Infra Engineering Ltd | 10 | 14.00 | 75.04 | 75.04 | 17.13 | 452.62 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 211 | 14,770.00 |
| Retail (Max) | 13 | 2,743 | 192,010.00 |
| S-HNI (Min) | 14 | 2,954 | 206,780.00 |
| S-HNI (Max) | 67 | 14,137 | 989,590.00 |
| B-HNI (Min) | 68 | 14,348 | 1,004,360.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Pantomath Capital Advisors Pvt Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Highway Infrastructure IPO is a Book-building IPO worth ₹130 crores. The price band is ₹65 to 70 per share. The IPO opens on Tue, Aug 5, 2025 and closes on Thu, Aug 7, 2025. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The Highway Infrastructure IPO opens on Tue, Aug 5, 2025 and closes on Thu, Aug 7, 2025
Highway Infrastructure IPO Price Band is ₹65 to 70.
Highway Infrastructure IPO lot size is 211, and the minimum amount required for application is ₹14770.
The minimum investment for Highway Infrastructure IPO is approximately ₹14770 based on the upper price band.
To apply for the Highway Infrastructure IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Thu, Aug 7, 2025. After submission, funds are blocked until the basis of allotment of Highway Infrastructure IPO is finalised.
Highway Infrastructure IPO issue size is ₹130 crores.
Highway Infrastructure IPO allotment date is Sat, Jun 27, 2026.
The registrar for Highway Infrastructure IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to Highway Infrastructure IPO through their official website or helpline.
The Highway Infrastructure IPO GMP (Grey Market Premium) is ₹24 as of Tue, Aug 12, 2025. Based on the upper price band of ₹70 per share, the estimated Highway Infrastructure IPO listing price is ₹94, indicating a potential listing gain of approximately 31% over the issue price.