Highway Infrastructure Limited made a blockbuster debut on the stock exchanges today, listing well above market expectations. Shares opened at Rs 115 on the NSE, a 64.29% premium over the issue price of Rs 70, and at Rs 117 on the BSE, up 67.14%.
The IPO, which received an overwhelming response from investors, was subscribed 300.60 times overall. The Qualified Institutional Buyers (QIB) category was oversubscribed 420.57 times, while Non-Institutional Investors (NIIs) bid 447.32 times their allotted portion. Retail investors also showed strong interest, subscribing 155.58 times.
Founded in 1995, Highway Infrastructure operates in tollway collection, EPC projects, and real estate development, with expertise in building and maintaining roads, highways, bridges, and residential projects. The public issue is aimed at funding expansion plans and strengthening the company’s market position.
Brokerage firms had largely recommended subscribing to the IPO, citing robust fundamentals and promising growth prospects. Pantomath Capital Advisors served as the book-running lead manager, with Bigshare Services as the registrar to the issue.
