Highway Infrastructure IPO Day 2: Check Subscription, GMP And Other Details
The Highway Infrastructure IPO is tentatively scheduled to be listed on the BSE and NSE on Tuesday, Aug. 12.
2The initial public offering of Highway Infrastructure Ltd. opened for subscription on Aug. 5. The IPO has been subscribed 50.68 times as of 12:17 p.m. on Wednesday on Day two.
The company operates in infrastructure development and management, with key areas including toll collection, EPC (Engineering, Procurement and Construction) projects and real estate development.
The Highway Infrastructure IPO is a book-built issue worth Rs 130 crore. It comprises a fresh issue of 1.39 crore shares, aggregating to Rs 97.52 crore, and an offer-for-sale (OFS) component of 46 lakh shares, amounting to Rs 32.48 crore.
The Highway Infrastructure IPO is tentatively scheduled to be listed on the BSE and NSE on Tuesday, Aug. 12.
Pantomath Capital Advisors Pvt. Ltd. is the book-running lead manager for the Highway Infrastructure IPO. Bigshare Services Pvt. Ltd. has been appointed as the registrar for the issue.
Highway Infrastructure Ltd. aims to utilise the proceeds from the IPO for specific business needs. A portion of the funds will be allocated towards meeting the company’s working capital requirements. The remaining amount will be used for general corporate purposes.
IPO Details
Issue opens: August 5.
Issue closes: August 7.
Issue price: Rs 65-70.
Fresh issue: 1.39 crore shares
Offer for sale: 46 lakh shares
Issue size: Rs 130 crore
Lot size: Minimum 63 shares.
Subscription Status: Day 2
The issue has been subscribed 50.68 times as of 12:17
Qualified institutional buyers: 5.54 times
Non-institutional buyers: 79.86 times
Retail investors: 53.80 times.
IPO GMP
The grey market premium for the IPO stood at Rs 38, as of 12:17 p.m. on August 5, according to InvestorGain. That implies listing at a premium of 54% at around Rs 108.
GMP or grey market price is not an official indicator and is based on market speculation.
