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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.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Bharat Highways InvIT Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
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 | 250,000,000 shares (aggregating up to ₹2,500.00 Cr) |
| Fresh Issue | 250,000,000 shares (aggregating up to ₹2,500.00 Cr) |
| Issue Type | Book Built Issue InvIT |
| Listing At | BSE, NSE |
Bharat Highways InvIT Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 |
Bharat Highways InvIT Limited IPO Lot Size
| Application | Lots | Shares | 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 |
Bharat Highways InvIT Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| - | - |
Competitive Strength:
- -
Bharat Highways InvIT Limited IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | 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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| - | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
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.
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Frequently Asked Questions (FAQs)
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What Is The Size Of The Bharat Highways Invit IPO?
Bharat Highways Invit IPO consists of a fresh issue of 2,500 crore shares. The company seeks funds for SPVs’ loan repayments and general expenses.
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What Is The Price Band Of The Bharat Highways Invit IPO?
The price band of the shares issued by the company is INR 98-100 per share.
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When will Bharat Highways InvIT's IPO be allotted?
The Bharat Highways InvIT’s shares will be allotted on March 5, 2024.
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When will Bharat Highways InvIT's IPO open for subscription?
The IPO subscription window for Bharat Highways InvIT will open on February 28, 2024.
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What minimum lot size can retail investors subscribe to?
Retail investors can apply for at least one lot, which is a size of 150 shares.
