Highway Infrastructure shares jump over 67 pc in market debut trade

Highway Infrastructure Ltd debuted on BSE and NSE with over 64% premium to its IPO price of Rs 70, valuing the firm at Rs 881 crore. The Rs 130-crore IPO, oversubscribed 300.61 times, funds tollway, EPC, and real estate operations

New Delhi: Shares of Highway Infrastructure Ltd on Tuesday listed with a premium of over 67 per cent against the issue price of Rs 70. The stock started trading at Rs 117, up 67.14 per cent from the issue price on the BSE.

At the NSE, it listed at Rs 115, a jump of 64.28 per cent. The company’s market valuation stood at Rs 881.02 crore.

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The initial public offer of Highway Infrastructure Ltd garnered a whopping 300.61 times subscription on the closing day of the share sale on Thursday last week.

The Rs 130-crore IPO had a price band of Rs 65-70 per share. The initial public offer (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.