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 :

1. 1. The most significant portion of the revenue generated by the company comes from tollway collection operations in 11 states and one Union Territory.
2. 2. 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.
3. 3. 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. 1. Arun Kumar Jain (Managing Director)
2. 2. Anoop Agrawal (Whole-time Director and Chief Financial Officer)
3. 3. Riddharth Jain (Non-Executive Non-Independent Director)
4. 4. Ritika Agrawal (Non-Executive Independent Director)
5. 5. Omprakash Shrivastava (Non-Executive Independent Director)
6. 6. Ujjwal Kumar Ghosh (Non-Executive Independent Director)