The initial public offering (IPO) of Highway Infrastructure Ltd made a remarkable debut, being fully subscribed within hours of its opening on Tuesday. According to the data provided by the NSE, bids were received for 11.97 crore shares against the 1.60 crore shares on offer, marking 7.47 times subscription.
Retail Individual Investors were particularly interested, with their segment fetching 9.63 times subscription. The quota for non-institutional investors subscribed 7.14 times, while the portion for Qualified Institutional Buyers received 90 percent subscription. The company effectively raised Rs 23.40 crore from anchor investors, including prominent names like HDFC Bank.
The IPO aims to generate a total of Rs 130 crore, with Rs 65 crore from the fresh issue being allocated for the company’s working capital requirements. Founded in 1995, the Indore-based Highway Infrastructure Ltd specializes in construction and maintenance projects. Its shares are set to be listed on both the BSE and NSE.
