How To Check Highway Infrastructure IPO Allotment Status And What Does GMP Signal Ahead Of Listing?

After the robust subscription, the company will finalise the Highway Infrastructure IPO allotment status on Friday, August 8.  

The initial public offering (IPO) of Highway Infrastructure Ltd. was oversubscribed more than 300 times on the last day of bidding on August 7. The IPO received bids for more than 482.27 crore shares against 1.6 crore shares on offer, as per the NSE data.

Ahead of the allotment today, the grey market premium for the mainboard issue has also been trending.

Here's all you need to know about the Highway Infrastructure IPO, including the latest GMP ahead of listing, how to check allotment status, listing date, and more.

Investors who participated in the IPO can check the allotment status on the websites of the NSE, BSE, and the issue registrar, Bigshare Services.

• Go to the official BSE website here.

• Select the issue type as 'Equity.' 

• Choose “Highway Infrastructure Ltd.” from the dropdown menu. 

• Enter your application number or PAN (Permanent Account Number). 

• Complete the 'Captcha' for verification. 

• Click on the 'Search' button to view your allotment status.

• Visit the IPO allotment page on the NSE website here. 

• Select 'Equity & SME IPO bid details'. 

• Select the company symbol “HILINFRA” from the dropdown list for issue symbols. 

• Enter PAN details and Application Number. 

• Click on the ‘Submit’ button to check the share allotment details.

• Visit the IPO allotment page on the Bigshare Services website here.

• Select one server out of the three options. 

• Select ‘Highway Infrastructure Ltd.’ from the dropdown list of company names. 

• Enter your PAN, Application/CAF Number, or DP/Client ID. 

• Fill in the captcha details.  

• Click on the Search button to verify your share allotment status.

The grey market premium (GMP) for the Highway Infrastructure IPO stood at Rs 36 as of 11:00 a.m. on August 8. The latest GMP indicates a listing price of Rs 106 per share at a premium of 51.43% over the upper limit of the price band. 

Note: GMP does not represent official data and is based on speculation.

After the share allocation, the company is expected to initiate refunds and transfer shares to the Demat accounts on August 11. The shares of Highway Infrastructure are tentatively scheduled to be listed on the BSE and NSE on August 12.

The IPO comprised a fresh issue of 1.39 crore shares, worth Rs 97.52 crore, and an offer-for-sale of 46 lakh shares, amounting to Rs 32.48 crore.

The price band for the IPO was set between Rs 65 and Rs 70 per share. It was a book-building issue worth Rs 130 crore.

The Qualified Institutional Buyers (QIBs) booked their quota 420.57 times, while the Non-Institutional Investors (NIIs) subscribed their segment 447.32 times. The retail portion of the mainboard IPO was booked 155.58 times.

The company is in the business of toll collection, infrastructure and real estate development.

Highway Infrastructure plans to utilise proceeds from the IPO to fund working capital requirements and for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.