Highway Infrastructure IPO is scheduled to open on August 5, 2025, and will close on August 7, 2025. The basis of allotment will be finalized on August 8, refunds will be processed by August 11, and shares will be credited to demat accounts on the same day. The IPO is expected to list on the stock exchanges BSE and NSE on August 12, 2025.
Highway Infrastructure IPO is a book build issue of around ₹130 crores. Out of this, ₹97.52 crores is a fresh issue, and ₹32.48 crores is an offer for sale (OFS) of up to 46,40,000 equity shares. The price band is fixed between ₹65 to ₹70 per share, with a face value of ₹5 each. The retail investor quota is 35%, QIB (Qualified Institutional Buyers) have 50%, and HNI (High Net-worth Investors) have 15% quota.
The lot size for retail investors is 211 shares, meaning a minimum investment of ₹13,715. For sNII (small HNIs), the minimum is 14 lots or 2,954 shares, costing about ₹2,06,780, and for bNII (big HNIs), it is 68 lots or 14,348 shares, costing around ₹10,04,360.
Looking at the financials, the company reported a revenue of ₹576.58 crores in 2024, compared to ₹456.83 crores in 2023. The profit also increased to ₹21.41 crores in 2024, from ₹13.80 crores in 2023. As per the performance, this IPO looks strong for long-term investors, and many experts suggest applying for this IPO.
Overview of Contents
About Highway Infrastructure IPO
Highway Infrastructure Limited (HIL), started in 1995, is an Indian company working in infrastructure development and management. The company is mainly involved in toll collection, EPC (Engineering, Procurement, and Construction) projects, and also real estate development. HIL builds and maintains roads, highways, bridges, and also works on residential housing projects.
In tollway collection, HIL runs toll systems for highways that they get through competitive bidding. They are one of the few toll operators using ANPR (Automatic Number Plate Recognition) technology for toll collection on the Delhi-Meerut Expressway. Their toll collection work is active in 11 states and 1 Union Territory. They use modern systems like RFID tags and digital payments to make toll payment smooth and quick. By August 31, 2024, HIL had completed 24 toll projects and was operating 7 toll projects at that time.
In the EPC segment, HIL handles everything from planning to final delivery of infrastructure projects. They have experience in building roads, bridges, irrigation systems, water tanks, and civil buildings. As of August 31, 2024, HIL had finished 63 EPC projects and was working on 20 more projects, especially in places like Indore, Ratlam, and Khandwa in Madhya Pradesh.
The company is also into real estate, where they build and sell housing and commercial properties. They have developed gated communities and residential complexes. However, this is the smallest part of their business. As of August 31, 2024, the company had 398 employees working across all its business segments.
Highway Infrastructure IPO Overview
| Details | Information |
|---|---|
| IPO Type | Book Build Issue |
| Face Value | ₹5 per equity share |
| Price Band | ₹65 to ₹70 per share |
| Lot Size | 211 shares |
| Minimum Investment (Retail) | ₹13,715 (for 1 lot of 211 shares at ₹65) |
| Issue Size | 1,85,71,428 shares (Total ₹130.00 Cr approx) |
| Fresh Issue Size | 1,39,31,428 shares (Approx ₹97.52 Cr) |
| Offer for Sale (OFS) | 46,40,000 shares (Approx ₹32.48 Cr) |
| Sale Type | Fresh Issue + Offer for Sale |
| Retail Investor Quota | Not more than 35% |
| QIB (Institutional) Quota | Not more than 50% |
| NII (HNI) Quota | Not more than 15% |
| Pre-Issue Shareholding | 5,77,89,204 shares |
| Post-Issue Shareholding | 7,17,20,632 shares |
| Stock Exchange Listing | BSE & NSE |
Highway Infrastructure IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Highway Infrastructure IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | Tuesday, August 5, 2025 |
| IPO Close Date | Thursday, August 7, 2025 |
| Basis of Allotment | Friday, August 8, 2025 |
| Refunds Initiation | Monday, August 11, 2025 |
| Credit to Demat Account | Monday, August 11, 2025 |
| IPO Listing Date | Tuesday, August 12, 2025 |
Highway Infrastructure IPO GMP
- To be Updated
Objects of the Issue
- Funding Working Capital Requirements of the Company.
- General corporate purposes.
Highway Infrastructure IPO Lot Size
| Investor Type | Lots | No. of Shares | Total Investment (Approx) |
|---|---|---|---|
| 🧍♂️ Retail (Minimum) | 1 lot | 211 shares | ₹14,770 |
| 🧍♂️ Retail (Maximum) | 13 lots | 2,743 shares | ₹1,92,010 |
| 💼 Small HNI (sNII) | 14 lots | 2,954 shares | ₹2,06,780 |
| 🏢 Big HNI (bNII) | 68 lots | 14,348 shares | ₹10,04,360 |
Promoters & Shareholding – Highway Infrastructure IPO
The promoters of Highway Infrastructure Limited are Arun Kumar Jain, Anoop Agrawal, and Riddharth Jain. Before the IPO, the promoter group holds 94.95% of the company’s shares. After the IPO, their shareholding will reduce as new shares are issued to the public.
Highway Infrastructure IPO Financial Performance
| Financial Metric | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Revenue | 504.48 | 576.58 | 456.83 |
| Profit After Tax | 22.40 | 21.41 | 13.80 |
| EBITDA | 31.32 | 38.44 | 27.69 |
| Total Assets | 231.56 | 202.63 | 156.59 |
| Net Worth | 117.72 | 100.19 | 74.81 |
| Reserves & Surplus | 83.90 | 83.49 | 64.44 |
| Total Borrowing | 71.82 | 69.62 | 63.36 |
Highway Infrastructure IPO Valuation – FY2024
| Metric | Value |
|---|---|
| Earnings Per Share (EPS) | ₹3.28 (Basic) |
| Net Asset Value (NAV) | ₹17.34 |
| Return on Net Worth (RoNW) | 21.37% |
| Return on Equity (ROE) | 21.37% |
| Return on Capital Employed | 24.45% |
| EBITDA Margin | 6.70% |
| Profit After Tax (PAT) Margin | 3.71% |
| Debt-to-Equity Ratio | 0.69 |
| P/E Ratio (Price to Earnings) | Not Available (N/A) |
Highway Infrastructure IPO Review
- Sushil Finance –
- Swastika Investmart –
- Ventura Securities –
- Canara Bank –
- DRChoksey FinServ –
- Emkay Global –
- Hem Securities –
- IDBI Capital –
- Marwadi Shares –
- Nirmal Bang –
- SBICAP Securities –
- Sharekhan –
- SMC Global –
- Geojit –
- Reliance Securities –
- Capital Market –
- BP Wealth –
- ICICIdirect –
- Choice Broking –
Highway Infrastructure IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
IPO Lead Managers aka Merchant Bankers
- Pantomath Capital Advisors Pvt Ltd
Company Address
Highway Infrastructure Ltd.
57-FA, Scheme No. 94,
Pipliyahana Junction,
Ring Road,
Indore, Madhya Pradesh, 452016
Phone: +91 731 4047177
Email: cs@highwayinfrastructure.in
Website: http://www.highwayinfrastructure.in/
Highway Infrastructure IPO FAQs
What is the Highway Infrastructure IPO open and close date?
The IPO will open on August 5, 2025 and close on August 7, 2025.
What is the price band for Highway Infrastructure IPO?
The price band is set between ₹65 to ₹70 per share.
What is the lot size and minimum investment for retail investors?
The lot size is 211 shares, and the minimum investment is ₹14,770.
What is the total issue size of the IPO?
The total IPO size is around ₹130 crores, which includes a fresh issue of ₹97.52 crores and offer for sale of 46,40,000 shares worth ₹32.48 crores.
What is the shareholding of promoters before and after the IPO?
Promoters held 94.95% before the IPO. Their shareholding will reduce after the issue.
When will the allotment be finalized?
The basis of allotment will be finalized on August 8, 2025.
When will the shares be credited to the demat account?
Shares will be credited to demat accounts on August 11, 2025.
When is the listing date of the IPO?
The IPO is likely to be listed on August 12, 2025 on both BSE and NSE.
What are the business segments of Highway Infrastructure Ltd.?
The company works in toll collection, EPC infrastructure projects, and real estate development.
Is it a good IPO to apply for?
The company has shown consistent profit and growing net worth. Long-term investors may consider applying after checking the valuation and market conditions.