Highway Infrastructure Limited will make its stock market debut today, August 12, at 10:00 IST on both the BSE and NSE. The shares will list under the ‘T’ Group of Securities and will begin trading in a special pre-open session.
The IPO saw overwhelming investor demand, with an overall subscription of 300.61 times. The non-institutional investor segment was subscribed 447.32 times, qualified institutional buyers (QIBs) subscribed 420.57 times, and retail investors subscribed 155.58 times.
Ahead of the listing, Highway Infrastructure secured ₹23.40 crore from anchor investors, including HDFC Bank and Abans Finance Pvt Ltd. The IPO price band was set at ₹65–₹70 per share, comprising a fresh issue of 1.39 crore shares worth ₹97.52 crore and an offer for sale of 46.4 lakh shares worth ₹32.48 crore.
Founded in 1995 and based in Indore, Highway Infrastructure operates in toll collection, engineering and construction projects, and the real estate sector, with expertise in roads, highways, bridges, and residential projects.
Listing Price Expectations
Market experts expect a premium listing based on grey market activity. The IPO’s grey market premium (GMP) was reported at ₹24, suggesting a likely listing price of around ₹94 per share — about 34% above the issue price of ₹70.
Harshal Dasani, Business Head at INVasset PMS, said the company’s FY24 revenue stood at ₹124.65 crore (up from ₹92.40 crore in FY23), with a net profit of ₹8.34 crore and an EPS of ₹4.43. At the IPO price, the stock’s P/E ratio is around 16×, which is lower than the 18–22× range for sector peers.
“With India’s infrastructure budget for FY26 exceeding ₹11 lakh crore, sector tailwinds are strong. However, execution delays, raw material cost inflation, and dependency on government contracts remain risks. While short-term listing gains are likely, long-term performance will depend on order inflow, project execution, and margin control,” Dasani noted.
Grey Market Trend
According to investorgain.com data, the Highway Infrastructure IPO GMP has shown a steady upward trend over the last 18 sessions, with a peak of ₹40 and a minimum of ₹0. Analysts say this momentum points to a healthy debut for the stock.
Image Source: Google Images
Image Credit: Respective Owner
