Highway Infrastructure Listing Date: Check Expected Listing Price Based On Latest GMP
The equity shares of Highway Infrastructure are set to make their debut on Tuesday, August 12.
Shares of Highway Infrastructure Ltd. are scheduled to be listed on the BSE and NSE on Tuesday, August 12. Ahead of the market debut, the grey market premium for the mainboard IPO continue to suggest a strong listing gain.
The share allotment status for the Highway Infrastructure IPO was finalised on August 8. The initial public offering (IPO) of Highway Infrastructure Ltd. was oversubscribed more than 300 times on the last day of bidding.
The IPO received bids for more than 482.27 crore shares against 1.6 crore shares on offer, as per the NSE data.
Highway Infrastructure GMP Today
The grey market premium (GMP) for the Highway Infrastructure IPO was Rs 24 as of 9:00 a.m. on August 11. The latest GMP indicates a listing price of Rs 94 per share at a premium of 34.29% over the upper limit of the price band. According to the current GMP trends, the shares of Highway Infrastructure Ltd. are expected to list at Rs 94 on the bourses, against the upper end of the price band of Rs 70.
The unlisted shares of the company were trading as high as Rs 106 when the issue closed for subscription on August 7. Despite the drop in the GMP, the company is expected to make a strong debut on Dalal Street on Tuesday.
Note: GMP does not represent official data and is based on speculation. GMP as per InvestorGain.
About Highway Infrastructure IPO
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.
Highway Infrastructure 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.
