Road Construction Agency to Secure ₹130 Crores through Public Offering
Highway Infrastructure's Successful Initial Public Offering
On August 4, 2025, Highway Infrastructure Limited announced its Initial Public Offering (IPO) with a price band of Rs 65 to Rs 70 per share, aiming to raise approximately Rs 130 crore. The IPO included a fresh issue of Rs 97.52 crore and an offer-for-sale (OFS) of 46.4 lakh equity shares by promoters, Arun Kumar Jain and Anoop Agarwal[1][2][3][4].
The IPO was met with strong investor interest, resulting in a staggering subscription of about 300.61 times[1][2][3][4]. The proceeds from the fresh issue will primarily fund working capital requirements amounting to Rs 65 crore, with the remaining amount allocated towards general corporate purposes[1][2][4].
The company's EPC infrastructure business has been a significant contributor to its order book, accounting for ₹607 crore as of May, compared to ₹59 crore from toll collection[5]. In the last financial year, toll collection contributed 77% to the company's total revenue, with the remaining revenue coming from real estate activities[6].
The IPO's registrar is Bigshare Services, and Pantomath Capital Advisors is the book running lead manager[7]. Arun Kumar Jain, Managing Director of Highway Infrastructure, stated that the proceeds from the IPO will strengthen EPC operations, enhance tolling infrastructure, and pursue growth opportunities in the infrastructure and real estate sectors[8].
As of FY25, Highway Infrastructure registered revenue of ₹496 crore, EBITDA of ₹31 crore, and net profit of ₹22 crore[9]. The IPO is open for bidding from August 5 to August 7, 2025, with a tentative listing scheduled for August 12, 2025, on BSE and NSE[3].
| Detail | Information | |-----------------------|------------------------------------| | Price Band | Rs 65 - 70 per share | | Total Issue Size | Approximately Rs 130 crore | | Fresh Issue Size | Rs 97.52 crore | | OFS Shares | 46.4 lakh shares | | Use of Proceeds | Rs 65 crore for working capital; remainder for corporate purposes | | Subscription | 300.61 times oversubscribed | | IPO Dates | August 5 - August 7, 2025 | | Listing Date | Tentative August 12, 2025 |
[1] Business Standard
[2] ET Markets
[3] Zee Business
[4] Moneycontrol
[5] Business Standard
[6] Business Today
[7] Business Standard
[8] Business Standard
[9] Business Today
- investors can subscribe to Highway Infrastructure Limited's Initial Public Offering (IPO), aiming to raise an approximate Rs 130 crore, which will help strengthen their EPC operations and pursue growth opportunities in the infrastructure and real estate sectors.
- Despite the high price band of Rs 65 to Rs 70 per share, the IPO has been met with strong investor interest, resulting in a staggering subscription of about 300.61 times.
- The infrastructure business of Highway Infrastructure Limited has been a significant contributor to its order book, with EPC operations and toll collection accounting for Rs 607 crore and Rs 59 crore, respectively, as of May.
