Highway Infrastructure Lists At 67% Premium Over IPO Price
Highway Infrastructure shares opened trading at Rs 115 on the NSE and Rs 117 on the BSE. The IPO price was Rs 70.
Highway Infrastructure Ltd. made a stellar debut at the stock market on Tuesday, listing at a premium of 67% over the IPO price. The scrip opened trading at Rs 115 on the NSE and Rs 117 on the BSE. The IPO price was Rs 70.
The Rs 130-crore IPO was subscribed 300.61 times, with the non-institutional investors portion overbooked by 447 times, institutional investors by 420 times and the retail portion by 156 times.
The Highway Infrastructure IPO was a mix of fresh issue of 1.39 crore shares aggregating to Rs 97.52 crore and an offer for sale of 46.4 lakh shares amounting to Rs 32.48 crore.
Incorporated in 1995, Highway Infrastructure Ltd. (HIL), is engaged in tollway collection, EPC (Engineering, Procurement, and Construction) projects, and real estate development. The Indore-based company specialises in the construction and maintenance of roads, highways, bridges, and residential projects.
