IPO

Highway Infrastructure Limited IPO

Mainboard

Road Assets–Toll, Annuity, Hybrid-Annuity

Listed On: Aug 12, 2025 at ₹ 115.0(NSE)

₹ 14770 /211 Shares

Check Allotment

05 Aug, 2025

Open Date

07 Aug, 2025

Close Date

08 Aug, 2025

Allotment Date

12 Aug, 2025

Listing Date
Price Summary

Last Closing

77.90 (11.29%)

52 Week High

131.40

52 Week Low

75.50

Last Update

3-Nov-2025 3:30 PM
Highway Infrastructure IPO Issue Details
  • Issue Price ₹65-70 per equity share
  • Face Value ₹5 Per Equity Share
  • Total Issue Size 1,85,71,428 shares(aggregating up to ₹130 crore)
  • Fresh Share 1,39,31,428 shares(aggregating up to ₹97.52 crore)
  • Offer For Sale 46,40,000 shares(aggregating up to ₹32.48 crore)
  • Listing at BSE, NSE
  • List Price 115.0(NSE)
  • Listing Date 2025-08-12
  • Lead Manager Pantomath Capital Advisors Pvt Ltd
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 211 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min) 1211₹14,770
Retail(max)132,743₹1,92,010
SHNI(min) 142,954₹2,06,780
SHNI(max) 6714,137₹9,89,590
BHNI(min) 6814,348₹10,04,360
Highway Infrastructure IPO Reservation

Highway Infrastructure IPO offers total 1,82,39,970 shares. Out of which 21,29,134 (11.67%) allocated to QIB, 54,71,992 (30%) allocated to NII,72,95,988 (40%) allocated to RII, NA (NA%) allocated to employees and 33,42,856 (18.33%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered33,42,856 (18.33%)
QIB Shares Offered21,29,134 (11.67%)
NII (HNI) Shares Offered54,71,992 (30%)
bNII < ₹10L18,23,997 (10%)
sNII < ₹10L36,47,995 (20%)
Retail Shares Offered72,95,988 (40%)
Total Shares Offered1,82,39,970 (100%)
Highway Infrastructure IPO Documents
DRHP
RHP
ANCHOR
Highway Infrastructure IPO Details


Highway Infrastructure IPO is a book-built issue of ₹130 crores, The total issue size is ₹130 crores. The IPO of Highway Infrastructure is priced at ₹65-70 per equity share, which has a face value of ₹5 Per Equity Share each, IPO bidding starts from Aug 5, 2025 and ends on Aug 7, 2025. The allotment for Highway Infrastructure IPO will be finalized on Aug 8, 2025. Highway Infrastructure IPO will be listed on BSE, NSE, with a tentative listing date fixed as Aug 12, 2025. The company shall list its equity shares on the BSE, NSE. Bigshare Services Pvt Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 211 shares, extendable to 14,770. S-HNIs will be able to bid for 2,954 shares at ₹2,06,780, while B-HNIs can also apply for a bid of 14,348 shares at ₹10,04,360. The book-running lead manager for the IPO is/are Pantomath Capital Advisors Pvt Ltd.

The total issue ₹130 crore, comprising a fresh issue of 1,39,31,428 shares ₹97.52 crore and having Offer for Sale (OFS) of 46,40,000 shares to mop up ₹32.48 crore.

The Highway Infrastructure IPO sets its price band at 65-70 for each share. A single application for Highway Infrastructure Limited IPO must contain at least 211 shares. Sentiment investors need to invest a minimum of 211 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,770 In order to participate in the sNII, investors must purchase at least 14 lots of 2,954 shares for ₹2,06,780, while the bNII requires 68 lots of 14,348 shares for an investment of ₹10,04,360.

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Highway Infrastructure IPO Subscription Analysis And Details
Retail
155.58x
QIB
420.57x
NII
447.32x
bNII
457.52x
sNII
426.91x
Total
300.61x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved22,28,57154,71,992
36,47,995    18,23,997		74,28,5721,52,28,573
Day 1 05-08-25 05:00 PM
4.87 x33.04
30.07 x   38.97 x		28.26 x26.68 x
Day 2 06-08-25 05:00 PM
7.10 x97.70
87.34 x   118.41 x		73.55 x72.92 x
Day 3 07-08-25 05:00 PM
420.57 x447.32
457.52 x   426.91 x		155.58 x300.61 x
Total No of Applications
46,36,025
Subscription on the basis of Applications
Retail:120.0x BHNI:90x SHNI:420x
Highway Infrastructure Valuations
EPS Pre IPO ₹3.88/-
EPS Post IPO ₹3.12/-
P/E Pre IPO 18.06
P/E Post IPO 22.41
ROE 19.03%
ROCE 16.56%
Debt/Equity 0.61
RoNW 19.03%
PAT Margin 4.44%
Price to Book Value 3.44
Highway Infrastructure Company Financials
In Crs.
In Cr.
31-Mar-2531-Mar-2431-Mar-23
Assets231.56202.63156.59
Revenue504.48576.58456.83
Profit After Tax22.4021.4113.80
Net Worth117.72100.1974.81
Reserves & Surplus83.9083.4964.44
Total Borrowing71.8269.6263.36
About Highway Infrastructure Company

Highway Infrastructure Limited (HIL), which was incorporated in 1995, is an Indian infrastructure development firm and management company undertaking tollway collection, EPC (Engineering, Procurement, and Construction) contracts, and real estate development. It is a specialist in road construction and road maintenance and in building highways, bridges, and residential projects.

Business Segments:
Tollway Collection Business:HIL collects tollways for highway projects through competitive bidding, and manages these tollway collection systems.The organization is one of the select toll operators employing ANPR (Automated Number Plate Recognition) technology for toll collection on the Delhi-Meerut Expressway.Toll collection operations are spread over 11 states and one Union Territory.The organization operates an upgraded Electronic Toll Collection (ETC) system employing RFID tags and electronic payment platforms to make toll payments hassle-free.As of August 31, 2024, HIL has executed 24 tollway collection projects and is executing 07 tollway collection projects.
EPC Infra Projects:
HIL has in-house capability to execute projects from concept to delivery.The company has expertise in different types of infrastructure projects such as roads, bridges, tanks, irrigation-related construction, and civil buildings.As of August 31, 2024, HIL has executed 63 EPC Infra projects with 20 projects in execution.Current projects are being implemented in Indore, Ratlam, and Khandwa of Madhya Pradesh, India.
Real Estate:Real estate business includes the ownership, development, construction, and sale of commercial and residential properties.The company has constructed gated communities and residential projects over the years.Real estate is the least business segment of HIL.

Workforce:As of August 31, 2024, HIL has 398 employees working in its business segments.

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Highway Infrastructure - Promoter(s)

Arun Kumar Jain

Anoop Agrawal

Riddharth Jain

Pre Issue Share Holding : 94.95%

Post Issue Share Holding : N/A%

Highway Infrastructure IPO - Issue Objectives
1

Funding Working Capital Requirements of the Company.

2

General Corporate Purposes.

Highway Infrastructure IPO - Anchor Investors

Highway Infrastructure gives Rs 23.4 crore worth shares to 4 anchor investors including HDFC Bank in pre-IPO.

VPK Global Ventures Fund placed Rs 8.4 crore against almost 12 lakh shares in Highway Infrastructure, while HDFC Bank, Abans Finance, and Sunrise Investment Opportunities Fund purchased 7.14 lakh shares valued at Rs 5 crore each.

Strength
Nearly 30 years of industry experience in toll operations and EPC projects.
Pioneered the use of ANPR technology for toll collection on major expressways.
Demonstrated financial performance with substantial revenue and profitability.
Experienced promoters with extensive industry knowledge and established relationships
Weakness
Modest scale of operations compared to larger industry peers.
Susceptibility to risks inherent in tender-based business models.
Moderate contribution from the EPC segment could affect revenue diversification.
Contact Details

Highway Infrastructure

57-FA, Scheme No. 94, Pipliyahana Junction, Ring Road, Indore, Madhya Pradesh, 452016

+91 731 4047177

cs@highwayinfrastructure.in

http://www.highwayinfrastructure.in/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html