Aadhar Housing Finance Limited IPO...
04 Aug, 2025
Highway Infrastructure Limited IPO
Highway Infrastructure Limited IPO of ₹130.00 crores is a combination of 1.39 crore fresh equity shares and ₹97.52 crores offer-for-sale shares, priced at ₹65 to ₹70 per share. Highway Infrastructure Limited IPO will be available for subscription by 5th August, 2025 and the issue will be closed by 7th August, 2025. The IPO is expected to be listed on BSE and NSE by 12th August, 2025. A retail investor can apply for 211 shares totaling up to ₹13,715. sNII can apply for 2,954 shares worth ₹2,06,780 and bNII can apply for 14,348 shares worth ₹10,04,360. Any applicant can subscribe for a minimum of 211 shares.
Company Background
Highway Infrastructure Limited was established in 1995 as a partnership firm by the name of Highway Enterprises. The company later transitioned to a public company with the primary operations being infrastructure management and development with business segments in tollway collection, EPC infrastructure projects and real estate development. The corporation manages toll in 11 states and one UT in India.
Operations & Product Range
Facility and Services
Highway Infrastructure Limited operates toll plazas on expressways with the implementation of advanced devices such as ANPR (Automatic Number Plate Reader) as well as Electric Toll Collection (ETC) that integrates with RFID tags to make tolling contactless and efficient. The company has completed more than 82 projects and currently has 20 upcoming projects for roads, tanks, bridges and civil structures.
Brand and Market Presence
Highway infrastructure has nearly 30 years of experience in the infrastructure sector and is well-known for its varied tollway collection operations. The company has established a stellar track record of completed projects in various regions such as Madhya Pradesh, Maharashtra, Gujarat, Delhi, Odisha and Telangana. Highway Infrastructure had an order book of Rs 5963.83 million as recorded in 2024. It caters to high-profile clients like Kalyan Group, Adroit and ISBI Developers & Promoters.
Revenue Channels
There are three primary channels of revenue for Highway Infrastructures Limited :
- The most significant portion of the revenue generated by the company comes from tollway collection operations in 11 states and one Union Territory.
- Certain revenue is also generated through engineering, procurement and construction projects, which constitutes a major part of their order book with about ₹606.78 crore worth of projects.
- Highway infrastructure also sells and develops residential as well as commercial real-estate properties, which also helps in constituting a good part of the revenue earned by the company.
Management & Shareholding
Promoters and Shareholders
The promoters for Highway Infrastructure Limited IPO are Arun Kumar Jain, Anoop Agarwal and Riddharth Jain, who have a 94.95% stake in the company. The same might reduce to approximately 65-75% post IPO listing.
Board Members
The board group consists of various managerial experts with high industry knowledge, such as -
- 1. Arun Kumar Jain (Managing Director)
- 2. Anoop Agrawal (Whole-time Director and Chief Financial Officer)
- 3. Riddharth Jain (Non-Executive Non-Independent Director)
- 4. Ritika Agrawal (Non-Executive Independent Director)
- 5. Omprakash Shrivastava (Non-Executive Independent Director)
- 6. Ujjwal Kumar Ghosh (Non-Executive Independent Director)
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.
Highway Infrastructure Limited IPO
| 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.**
Highway Infrastructure Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 5, 2025 to August 7, 2025 |
| Listing Date | ₹5 per share |
| Issue Price Band | ₹65 to ₹70 per share |
| Lot Size | 211 Shares |
| 211 Shares | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,85,71,428 shares (aggregating up to ₹130.00 Cr) |
| Fresh Issue | 1,39,31,428 shares (aggregating up to ₹97.52 Cr) |
| Offer for Sale | 46,40,000 shares of ₹5 (aggregating up to ₹32.48 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,77,89,204 shares |
| Share Holding Post Issue | 7,17,20,632 shares |
Highway Infrastructure Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Tue, Aug 5, 2025 |
| IPO Close Date | Thu, Aug 7, 2025 |
| Tentative Allotment | Fri, Aug 8, 2025 |
| Initiation of Refunds | Mon, Aug 11, 2025 |
| Credit of Shares to Demat | Mon, Aug 11, 2025 |
| Tentative Listing Date | Tue, Aug 12, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 7, 2025 |
Highway Infrastructure Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 211.00 | ₹14,770 |
| Retail (Max) | 13 | 2,743.00 | ₹1,92,010 |
| S-HNI (Min) | 14 | 2,954 | ₹2,06,780 |
| S-HNI (Max) | 67 | 14,137 | ₹9,89,590 |
| B-HNI (Min) | 68 | 14,348 | ₹10,04,360 |
Highway Infrastructure Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 94.95% |
| Share Holding Post Issue | - |
Competitive Strength:
- 1. Highway Infrastructure Limited utilises advanced technology such as ANPR and ETC systems with integrated RFID tags for contactless toll collection.
- 2. The company operates pan-India with a strong presence in 11 states like Telangana, Delhi, Odisha, Madhya Pradesh, Gujarat, Maharashtra and Punjab.
- 3. With a strong order book of approximately Rs 666 crore, the company also has various streams of revenue generation, such as EPC infrastructure and Real-estate development.
Highway Infrastructure Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 231.56 | 504.48 | 22.4 | 117.72 | 71.82 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 202.63 | 576.58 | 21 | 100 | 69.62 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 156.59 | 456.83 | 13.8 | 74.81 | 63.36 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 19.03% |
| ROCE | 16.56% |
| Debt/Equity | 0.61 |
| RoNW | 19.03% |
| PAT Margin | 4.44% |
| EBITDA Margin | 6.32% |
| Price to Book Value | 3.44 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.88 | 3.12 |
| P/E (x) | 18.06 | 22.41 |
Objectives of Highway Infrastructure Limited IPO
The IPO proceeds will be used to provide funding for the company’s working capital needs and to manage the general corporate functioning.
Conclusion
The Highway Infrastructure Limited IPO is a rare chance for investors to participate in a rising player that aims to target the growing infrastructure and real estate market in India. Highway Infrastructures Limited provides varied services and has a strong order book through its operations in 11 cities and one union territory. The upcoming IPO provides the company with a growth and expansion opportunity to establish a firm brand presence in the market.
RHP:
DRHP:
Read more :
Frequently asked Questions (FAQs )
-
1. What is the Highway Infrastructure Limited IPO price band?
The price band of the IPO is ₹65 to ₹70 per share.
-
2. What is the promoter shareholding pre-IPO?
The promoters have a 94.95% stake in the company pre-IPO.
-
3. How many shares are on offer?
The issue has 1.39 crore fresh equity shares and ₹97.52 crores offer-for-sale shares.
-
4. What is the issue size of the Highway Infrastructure Limited IPO?
Highway Infrastructure Limited IPO is of ₹130.00 crores.
