Bharat Highways InvIT Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 28, 2024 to March 1, 2024 |
| Listing Date | March 12, 2024 |
| Face Value | ₹ per share |
| Price Band | ₹ 98 to ₹ 100 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 25,00,00,000 shares (aggregating up to ₹ 2,500.00 Cr) |
| Fresh Issue | 25,00,00,000 shares (aggregating up to ₹ 2,500.00 Cr) |
| Issue Type | Book Built Issue InvIT |
| Listing At | BSE, NSE |
About Bharat Highways InvIT Limited IPO
Bharat Highways InvITs is an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India and to carry on the activities of¬ an infrastructure investment trust, as permissible under the SEBI InvIT Regulations. It is settled by way of the Original Trust Deed, by GRIL (the Settlor) and registered as an infrastructure investment trust with SEBI on August 3, 2022 pursuant to the SEBI InvIT Regulations. The Sponsor is engaged in testing services in the field of transportation engineering and has expertise in NSV survey, FWD survey, pavement design of roads and airports, physical and chemical testing of soil, lime, cement, road roughness testing, concrete and bituminous mix design of road projects.
Bharat Highways InvIT is a book-built issue of Rs 2,500.00 crores. The issue is entirely a fresh issue of 25 crore shares. Bharat Highways InvIT price band is set at ₹98 to ₹100 per share. The minimum lot size for an application is 150 Shares. ICICI Securities Limited, Axis Bank Limited, Hdfc Bank Limited and Iifl Securities Ltd are the book running lead managers of the Bharat Highways InvIT, while Kfin Technologies Limited is the registrar for the issue.
Objectives of Bharat Highways InvIT IPO
The Net Proceeds will be utilized by the InvIT towards the following objectives:
- 1. Providing loans to the Project SPVs for repayment/ prepayment, in part or in full, of their respective outstanding loans (including any accrued interest and prepayment penalty).
- 2. General purposes.
Bharat Highways InvIT IPO Review
The company is having seven highway projects under its current seven SPVs and is doing operations primarily on HAM projects. Since no track records of such InvITs are available and the treaty is not fully understood by the markets, well-informed/cash surplus investors may apply for the medium to long term rewards.
Bharat Highways InvIT Limited IPO Financial Information
Latest Revenue
388.54
₹ Crore
Profit After Tax
101.35
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 5,916.80 | 388.54 | 101.35 | — | — | ||||
| 31 Mar 2023 | 6,056.28 | 1,537.47 | 527.05 | — | — | ||||
| 31 Mar 2022 | 5,536.40 | 1,600.18 | 62.87 | — | — | ||||
| 31 Mar 2021 | 4,943.95 | 2,170.39 | 149.45 | — | — | ||||
| Amount in ₹ Crore | |||||||||
Bharat Highways InvIT Limited Key Performance Indicator
| KPI | Values |
|---|---|
| - |
Frequently Asked Questions
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Competitive Strengths
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Bharat Highways InvIT Limited IPO Timeline
| IPO Open Date | Wednesday, February 28, 2024 |
| IPO Close Date | Friday, March 1, 2024 |
| Basis of Allotment | Wednesday, March 6, 2024 |
| Initiation of Refunds | Thursday, March 7, 2024 |
| Credit of Shares to Demat | Thursday, March 7, 2024 |
| Listing Date | Tuesday, March 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 1, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1950 | ₹195,000 |
| S-HNI (Min) | 14 | 2,100 | ₹210,000 |
| S-HNI (Max) | 66 | 9,900 | ₹990,000 |
| B-HNI (Min) | 67 | 10,050 | ₹1,005,000 |