Highway Infrastructure IPO Fully Subscribed Within an Hour; Retail Investors Drive Early Demand
- 5th August 2025
- 01:00:00 PM
- 3 min read
Mumbai | August 5 – The ₹130 crore Highway Infrastructure IPO witnessed a strong opening on Tuesday, with the issue getting fully subscribed within the first hour of bidding. As of 11:26 AM, cumulative demand stood at 6.29 times the offer size, with total bids for 10,09,45,776 equity shares against 1,60,43,046 shares on offer, according to NSE data.
Retail investors were the most aggressive participants, with the RII (Retail Individual Investor) category subscribed 8.24 times, followed by non-institutional investors at 5.80 times. The QIB (Qualified Institutional Buyer) category saw relatively moderate interest with a 0.90x subscription. The IPO will remain open till August 7, with shares expected to list on August 12 on both NSE and BSE.
The price band has been set at ₹65 to ₹70 per share, with a minimum lot size of 211 shares. The offer comprises a fresh issue worth ₹97.52 crore and an offer-for-sale (OFS) component of ₹32.48 crore. Proceeds from the fresh issue are earmarked for working capital requirements and general corporate purposes, as per the red herring prospectus (RHP).
Also Read: Upcoming IPOs in August 2025 – Full Calendar, Price Bands, and more
In a pre-IPO anchor round on August 4, the company raised ₹23.4 crore from four institutional investors. VPK Global Ventures Fund subscribed to nearly 12 lakh shares for ₹8.4 crore, while HDFC Bank, Abans Finance, and Sunrise Investment Opportunities Fund were allotted 7.14 lakh shares each worth ₹5 crore.
For FY25, Highway Infrastructure reported a net profit of ₹22.40 crore on revenue of ₹504.48 crore, compared to ₹21.41 crore profit and ₹576.58 crore revenue in FY24. At the upper price band, the implied post-issue market capitalisation stands at approximately ₹502.04 crore.
As per data available on the IPO tracking portal Investorgain.com, the grey market premium (GMP) for Highway Infrastructure shares was reported at ₹110 per share on the morning of August 5. This suggests an indicative listing premium of over 57% versus the upper end of the issue price. However, investors are advised that GMP figures are unofficial and unregulated, and should not be the sole basis for investment decisions.
With a strong Day 1 subscription, healthy anchor backing, and sustained retail interest, the Highway Infrastructure IPO reflects continued investor appetite for infrastructure-backed offerings in India’s primary market. The robust demand also comes as the capital markets gear up for a busy IPO calendar in August.
PL Capital
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
