Highway Infrastructure IPO
GMP, Subscription, Price, Dates & Financial Details
Engineering - Construction
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,…
Open Date
Tue, 05 Aug 2025
Close Date
Thu, 07 Aug 2025
Price Band
₹ 65 – 70
Lot Size
211
Issue Size
₹ 130.00 Cr
Minimum Investment
₹ 14,770 (211 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Highway Infrastructure IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹130.00 Crore, comprising a fresh issue of 1.39 Crore equity shares aggregating to ₹97.52 Crore and an offer for sale (OFS) of 46.40 Lakh equity shares aggregating to ₹32.48 Crore by the existing shareholders.
The Highway Infrastructure IPO remained open for subscription from August 05, 2025, to August 07, 2025. The basis of allotment was finalized on August 08, 2025, and the company's shares were listed on the NSE and BSE on August 12, 2025.
The company had fixed the price band at ₹65 to ₹70 per share, with a lot size of 211 shares. Retail investors were required to make a minimum investment of ₹14,770 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. Pantomath Capital Advisors Pvt Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Highway Infrastructure Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Highway Infrastructure IPO Timeline (Tentative)
- IPO Open Date
- Tue, 05 Aug 25
- IPO Close Date
- Thu, 07 Aug 25
- Basis of Allotment
- Fri, 08 Aug 25
- Initiation of Refunds
- Mon, 11 Aug 25
- Credit of Shares to Demat
- Mon, 11 Aug 25
- Listing Date
- Tue, 12 Aug 25 — NSE & BSE
Open Date
05 August 2025
Close Date
07 August 2025
Basis Of Allotment
08 August 2025
Listing Date
12 August 2025
IPO Subscription
Check Live Subscription →The Highway Infrastructure IPO has received bids for 4,82,27,63,700 shares against 1,60,43,046 shares offered, resulting in an overall subscription of 300.61x. the NII category is subscribed 447.32x, Retail Investors 155.58x, and QIBs 420.57x. Within the NII category, BNII is subscribed 457.52x, while SNII is subscribed 426.91x.
QIB
420.57x
NII
447.32x
BNII
457.52x
SNII
426.91x
RII
155.58x
Total
300.61x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 78,57,218 shares, representing 48.98% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 22,92,914 shares (14.29%), while Non-Institutional Investors (NIIs) receive 58,92,914 shares (36.73%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 2,292,914 | 14.29% |
| Non-Institutional | 5,892,914 | 36.73% |
| BNII | 3,928,610 | 24.49% |
| SNII | 1,964,304 | 12.24% |
| Retail Investors | 7,857,218 | 48.98% |
| Total | 16,043,046 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Highway Infrastructure Limited KPI Information
| 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 |
| Pat Margin % | 4.44 | 3.71 | 3.02 |
Peers Comparison
| 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 |
About Highway Infrastructure Limited
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.
Highway Infrastructure IPO Promoters
- Arun Kumar Jain
- Anoop Agrawal
- Riddharth Jain
Promoters Holding
Holding Pre Issue
94.95%
Holding Post Issue
70.04%
Highway Infrastructure IPO Objective
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.
Highway Infrastructure Limited Address / Contact Details
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
Highway Infrastructure IPO Lot Size
The Highway Infrastructure IPO has a lot size of 211 shares. Retail investors require a minimum investment of ₹14,770 by applying for 1 lot (211 shares). The maximum application allowed for the retail category is 13 lots (2,743 shares), requiring an investment of ₹1,92,010.
| 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 |
Issue Reservation
- QIB — 14.29%
- NII — 36.73%
- RII — 48.98%
Book Running Lead Managers
- Pantomath Capital Advisors Pvt Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Highway Infrastructure IPO?
Highway Infrastructure IPO is a Book-building IPO with a total issue size of ₹130 crore. The Highway Infrastructure IPO price band is ₹65 to 70 per share. The Highway Infrastructure IPO subscription opens on Tue, Aug 5, 2025, and closes on Thu, Aug 7, 2025. The Highway Infrastructure IPO will be listed on the BSE,NSE. Bigshare Services Pvt Ltd is the registrar for the Highway Infrastructure IPO.
When will the Highway Infrastructure IPO open for subscription?
The Highway Infrastructure IPO opens on Tue, Aug 5, 2025 and closes on Thu, Aug 7, 2025
What is Highway Infrastructure IPO Price Band?
Highway Infrastructure IPO Price Band is ₹65 to 70 per share.
What is Highway Infrastructure IPO Lot Size?
Highway Infrastructure IPO lot size is 211 shares, Retail investors need a minimum investment of ₹14770 based on the upper price band
What is the minimum investment for Highway Infrastructure IPO?
The minimum investment for Highway Infrastructure IPO is ₹14770, based on one lot of 211 shares at the upper price band of ₹70 per share.
How to apply for Highway Infrastructure IPO?
Investors can apply for the Highway Infrastructure IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Aug 7, 2025. The application amount remains blocked until the Highway Infrastructure IPO allotment is finalized.
What is Highway Infrastructure IPO Issue Size?
Highway Infrastructure IPO issue size is ₹130 crores.
What is the Highway Infrastructure IPO Allotment Date?
Highway Infrastructure IPO allotment date is Fri, Aug 8, 2025.
Who is the Highway Infrastructure IPO Registrar?
The registrar for Highway Infrastructure IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check Highway Infrastructure IPO allotment status, refund processing, and other IPO-related information.
What is the Highway Infrastructure IPO GMP?
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 34.29% over the issue price.
Who is the Highway Infrastructure IPO Lead Manager?
The book-running lead managers (BRLMs) for the Highway Infrastructure IPO are Pantomath Capital Advisors Pvt Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Highway Infrastructure IPO Red Herring Prospectus (RHP).