Introduction
In what appears
to be one of the most talked-about IPOs in recent times, the HighwayInfrastructure IPO is witnessing an extraordinary investor response. The
public issue, which opened on August 5, 2025, is all set to close today,
August 7. As of Thursday morning, the IPO was subscribed nearly 100
times, with non-institutional and retail investors leading the pack.
This post dives
deep into the IPO's performance, GMP trends, investor interest, subscription
breakdown, IPO objectives, allotment dates, listing expectations, and more. If
you're considering investing in IPOs or want to stay informed about the stock
market buzz, this detailed breakdown of the Highway Infrastructure IPO
is a must-read.
What is Highway Infrastructure?
About the Company
HighwayInfrastructure Ltd (HIL) is a diversified player in the infrastructure development space. The
company operates in three primary verticals:
- Tollway collection – A core revenue generator
- EPC Infra Projects – Roads, bridges, tanks,
irrigation and civil buildings
- Real estate development – A growing vertical
The firm has
carved a niche in executing critical infrastructure projects, especially in the
road and highway sectors. With steady revenue from toll operations and
expansion in EPC contracts, the company is positioning itself as a mid-sized
infrastructure powerhouse.
Highway Infrastructure IPO Details
| Detail | Information |
|---|---|
| IPO Open Date | August 5, 2025 |
| IPO Close Date | August 7, 2025 |
| Price Band | ₹65 – ₹70 per share |
| Lot Size | 211 shares |
| Minimum Investment | ₹14,770 |
| Maximum Retail Investment | ₹1,92,010 |
| Fresh Issue Size | ₹97.52 crore |
| Offer for Sale (OFS) | ₹32.48 crore |
| Total Issue Size | ₹130 crore (approx.) |
| Registrar | Bigshare Services |
| Lead Manager | Pantomath Capital Advisors |
| Listing Date (Tentative) | August 12, 2025 |
| Stock Exchanges | BSE & NSE |
Highway Infrastructure IPO Subscription Status (Day 3
Update)
As of 10:30
AM on August 7, 2025, the IPO has received 1,60,34,25,081 bids
against 1,60,43,046 shares on offer. That’s a jaw-dropping 99.95x
subscription showing immense demand across the board.
Category-wise Subscription
| Investor Category | Times Subscribed |
|---|---|
| Non-Institutional Investors (NII) | 148.04x |
| Retail Individual Investors (RII) | 90.72x |
| Qualified Institutional Buyers (QIB) | 7.93x |
This level of
demand underscores the faith that both retail and sophisticated investors have
in the company's potential.
Highway Infrastructure IPO GMP (Grey Market Premium)
On the final
day of bidding, Highway Infrastructure IPO GMP stands at ₹40, which is a
57.14% premium over the issue price of ₹70 (upper band).
GMP Breakdown
- Issue Price (Upper Band): ₹70
- GMP: ₹40
- Expected Listing Price: ₹110 (as per grey market
sources)
- Expected Listing Gain: ~57%
Grey market
activity isn't official or regulated, but it provides a solid hint of listing
expectations. A GMP this strong indicates high demand, low float, and strong
post-listing performance potential.
Why Is This IPO in High Demand?
1. Robust Business Model
HIL earns
predictable revenues through its tollway operations while diversifying through
construction and real estate.
2. Growing Infrastructure Spending
India’s
increasing focus on road development and rural connectivity is boosting
sentiment in infrastructure stocks.
3. Reasonable Valuation
At a price band
of ₹65–₹70, the valuation appears moderate when compared to peers in the infra
sector.
4. Strong Grey Market Premium
A GMP of 57% on
the final subscription day drives confidence among retail and HNI investors.
Utilization of IPO Proceeds
It's important
to understand where the raised funds will be used:
Fresh Issue Proceeds – ₹97.52 crore
- Working capital requirements: Ongoing and upcoming projects
need significant liquidity.
- General corporate purposes: Strengthening balance sheets,
operational flexibility, and future planning.
OFS Proceeds – ₹32.48 crore
- Goes to the promoters – Arun
Kumar Jain and Anoop Agrawal, who are partially exiting their
holdings.
Note: The company won’t receive any funds
from the OFS component.
Allotment and Listing Timeline
| Event | Tentative Date |
|---|---|
| IPO Close Date | August 7, 2025 |
| Allotment Finalization | August 8, 2025 |
| Credit of Shares | August 11, 2025 |
| Listing on BSE/NSE | August 12, 2025 |
Investors can
check allotment status on Bigshare Services, the official registrar.
Highway Infrastructure: Financials Snapshot (FY24)
| Metric | Value |
|---|---|
| Revenue from Operations | ₹185.2 crore |
| Net Profit | ₹17.6 crore |
| EBITDA Margin | ~18.5% |
| Debt-to-Equity Ratio | 0.6x |
| Return on Net Worth (RONW) | 12.3% |
The company has
shown stable margins and steady profit growth over the past 3 years, making it
a strong mid-cap contender in the infrastructure segment.
How to Check Highway Infrastructure IPO Allotment Status?
Steps to Check Allotment:
- Visit Bigshare Services Allotment
Page.
- Select 'Highway Infrastructure
IPO'.
- Enter PAN number or application
number or DP ID.
- Click on ‘Search’.
- Your allotment status will be
displayed.
Should You Invest in Highway Infrastructure Shares
Post-IPO?
Pros:
High
visibility into future revenue via toll collection
Government infra push boosts outlook
Reasonably priced IPO
Strong retail and HNI interest
Good GMP indicating strong listing potential
Cons:
OFS signals
partial promoter exit
High competition in EPC space
Cyclical nature of infrastructure projects
Investor Tip: If you’re allotted shares, short-term
gains are highly likely. But for long-term holding, wait to see quarterly
performance and project execution ability.
Final Thoughts: Highway Infrastructure IPO Is a Hit
Whether you’re
a seasoned investor or a retail participant entering the IPO game, HighwayInfrastructure IPO has proven to be a headline-worthy offering. Nearing 100x
subscription, strong GMP, and a sound business model have made it one of
the hottest IPOs of 2025.
With allotment
scheduled for August 8 and listing on August 12, all eyes will
now be on how the stock performs on debut. For those who’ve already applied good luck. For those who missed there may be a chance to enter post-listing,
but do tread cautiously and wait for price stability.
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