Highway Infrastructure IPO in Focus as GMP Climbs 57% — Key Points for Investors

The Rs 130 crore initial public offering (IPO) of Highway Infrastructure Ltd. (HIL) opened today to an enthusiastic investor response, with the issue fully subscribed within just 40 minutes of market opening. As of 10:46 AM, the IPO had already recorded an overall subscription of 3.70 times, reflecting robust appetite across investor categories.

IPO size and structure, price band

The IPO comprises a fresh issue of shares worth Rs 97.52 crore and an offer-for-sale (OFS) component amounting to Rs 32.48 crore. Priced in the range of Rs 65 to Rs 70 per share, the issue is available in lots of 211 shares, translating to a minimum investment of Rs 14,770 for retail investors. The face value of each share is Rs 5.

Use of Proceeds 

The company has earmarked Rs 65 crore from the proceeds to meet working capital requirements, while the remaining funds will be allocated for general corporate purposes. Highway Infrastructure, which operates in the road construction and infrastructure development space, aims to strengthen its balance sheet and scale up operations through this public fundraising.

Also Read: Highway Infrastructure IPO: Check Latest GMP, Key Details, Important Dates, Price Band And More | Republic World

Grey Market Premium

The grey market premium (GMP) for the Highway Infrastructure IPO was last reported at Rs40 as of August 5, 2025, 12:57 PM, suggesting an estimated listing price of Rs 110 per share (the cap price of Rs 70 plus the current GMP), which implies a potential listing gain of approximately 57.14% for investors.

Key dates and timeline

The IPO will remain open for subscription until August 7. Post-closure, the basis of allotment is expected to be finalized by August 8, with refunds and credit of shares to demat accounts scheduled for August 11. The company is likely to list on both BSE and NSE under the SME platform on August 12, 2025.

Company financials and profitability

Financially, Highway Infrastructure reported a slight dip in revenue for FY25 at Rs 504.5 crore, down from Rs 576.6 crore in the previous year. However, its net profit improved marginally from Rs 21.4 crore to Rs 22.4 crore, suggesting operational efficiency gains despite top-line pressures.

About the company

Highway Infrastructure operates in the infrastructure development and management sector, offering services such as toll collection, EPC (Engineering, Procurement, and Construction) projects, and real estate activities. The company's primary source of revenue stems from its tollway operations. 

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