Highway Infrastructure came to market through an IPO that opened on 5 August 2025 and closed on 7 August 2025, and the shares listed on 12 August 2025 on BSE, NSE. The price band was ₹65 to ₹70 per share and one lot was 211 shares, so the minimum application was ₹14,770. The issue size was ₹130 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Bigshare Services Pvt Ltd was the registrar to the issue, and Pantomath Capital Advisors Pvt Ltd was the lead manager.
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Highway Infrastructure Limited (HIL), which was incorporated in 1995, is an Indian infrastructure development firm and management company undertaking tollway collection, EPC (Engineering, Procurement, and Construction) contracts, and real estate development. It is a specialist in road construction and road maintenance and in building highways, bridges, and residential projects. Business Segments:
Tollway Collection Business:HIL collects tollways for highway projects through competitive bidding, and manages these tollway collection systems.The organization is one of the select toll operators employing ANPR (Automated Number Plate Recognition) technology for toll collection on the Delhi-Meerut Expressway.Toll collection operations are spread over 11 states and one Union Territory.The organization operates an upgraded Electronic Toll Collection (ETC) system employing RFID tags and electronic payment platforms to make toll payments hassle-free.As of August 31, 2024, HIL has executed 24 tollway collection projects and is executing 07 tollway collection projects.
EPC Infra Projects: HIL has in-house capability to execute projects from concept to delivery.The company has expertise in different types of infrastructure projects such as roads, bridges, tanks, irrigation-related construction, and civil buildings.As of August 31, 2024, HIL has executed 63 EPC Infra projects with 20 projects in execution.Current projects are being implemented in Indore, Ratlam, and Khandwa of Madhya Pradesh, India.
Real Estate:Real estate business includes the ownership, development, construction, and sale of commercial and residential properties.The company has constructed gated communities and residential projects over the years.Real estate is the least business segment of HIL. Workforce:As of August 31, 2024, HIL has 398 employees working in its business segments.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Highway Infrastructure gives Rs 23.4 crore worth shares to 4 anchor investors including HDFC Bank in pre-IPO. VPK Global Ventures Fund placed Rs 8.4 crore against almost 12 lakh shares in Highway Infrastructure, while HDFC Bank, Abans Finance, and Sunrise Investment Opportunities Fund purchased 7.14 lakh shares valued at Rs 5 crore each.
Arun Kumar Jain, Anoop Agrawal, Riddharth Jain. Promoter holding 94.95% before the issue.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Highway Infrastructure IPO was a ₹130 crore book-built issue, comprising a fresh issue of ₹97.52 crore and an offer for sale of ₹32.48 crore. It was priced at ₹65–₹70 per share with a lot size of 211 shares (₹14,770). The IPO was open from August 5 to August 7, 2025. Shares listed on BSE and NSE on August 12, 2025 at ₹115, a 64.3% premium to the issue price of ₹70. Bigshare Services Pvt Ltd is the registrar.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager.
The price band of Highway Infrastructure IPO is ₹65 to ₹70 per share.
The lot size of Highway Infrastructure IPO is 211 shares.
The minimum investment for Highway Infrastructure IPO is approximately ₹14,770 based on the upper price band.
The allotment date of Highway Infrastructure IPO is Aug 8, 2025.
Highway Infrastructure IPO's final recorded GMP before listing was ₹25 per share (a 36% premium over the ₹70 upper price band). The shares listed at ₹115. GMP is unofficial and does not forecast or guarantee the actual listing price.
Highway Infrastructure IPO listed on Aug 12, 2025. It was issued at ₹115.0(NSE) and is currently around ₹67.25 as on 30-Oct-2026 3:30 PM, which is approximately -3.9% versus issue price. The 52-week high is ₹82.88.
You can check Highway Infrastructure IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Highway Infrastructure IPO allotment status on Rupix for quick and easy access.
₹65 to ₹70 per share, against a face value of ₹5. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 211 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,770.
₹14,770, for one lot of 211 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 5 August 2025 and closed on 7 August 2025.
The basis of allotment was published on 8 August 2025 by Bigshare Services Pvt Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 12 August 2025 on BSE, NSE.
The issue size was ₹130 crore. The fresh issue was 1,39,31,428 shares (aggregating up to ₹97.52 crore). The offer for sale was 46,40,000 shares (aggregating up to ₹32.48 crore).