The initial public offering (IPO) of Highway Infrastructure Limited has officially opened for subscription today, 5 August 2025, and will remain open until 7 August 2025. The company has set the IPO price band in the range of ₹65 to ₹70 per equity share, aiming to raise around ₹130 crore through a fresh issue and offer for sale (OFS).
Highway Infrastructure IPO Kicks Off: Check GMP, Subscription, Registrar Info & Apply Decision
The proposed listing will take place on both the BSE and NSE platforms.
Meanwhile, the stock is gaining traction in the grey market, with shares of Highway Infrastructure trading at a premium of ₹41 today. This indicates that the Highway Infrastructure IPO GMP (Grey Market Premium) is currently standing at ₹41, reflecting strong investor sentiment ahead of the listing.
Highway Infrastructure IPO Subscription Status (Day 1, 10:06 AM)
As of 10:06 AM on Day 1 of bidding, the Highway Infrastructure IPO witnessed a decent initial response from investors. The public issue was subscribed 0.49 times overall, with the retail investor segment booked at 0.51 times and the Non-Institutional Investor (NII) category subscribed 0.67 times.
Key Details of Highway Infrastructure IPO
1. Highway Infrastructure IPO GMP Today:
According to grey market trackers, shares of Highway Infrastructure are commanding a premium of ₹41 today, indicating strong market sentiment ahead of the listing.
2. Price Band:
The company has fixed the IPO price band between ₹65 and ₹70 per equity share.
3. IPO Dates:
The bidding window for the IPO opened today, 5 August 2025, and will remain open until 7 August 2025.
4. Issue Size:
The IPO aims to raise a total of ₹130 crore, which includes:
₹97.52 crore from a fresh issue of shares, and
₹32.48 crore through an Offer for Sale (OFS) by existing shareholders.
5] Highway Infrastructure IPO lot size: A bidder can apply in lots, and one lot of the public offer comprises 211 company shares.
6] Highway Infrastructure IPO registrar: Bigshare Services Pvt Ltd has been appointed the official registrar of the public offer.
7] Highway Infrastructure IPO allotment date: The most likely date for share allocation is 8 August 2025.
8] Highway Infrastructure IPO lead manager: Pantomath Capital Advisors has been appointed lead manager of the public issue.
9] Highway Infrastructure IPO listing date: The most likely date for the share listing is 12 August 2025.
Highway Infrastructure IPO: Apply or not?
10] Highway Infrastructure IPO review: Assigning a ‘subscribe’ tag to the public issue, Shivani Nyati, Head of Wealth at Swastika Investmart, said, “At the IPO upper band, the valuation stands at 18.06x FY25 earnings, with a post-issue market capitalisation of ₹5,020 million; the IPO is considered fully priced. The company’s order book stands strong at ₹6,663 million as of May 2025, mainly from EPC projects. The IPO is recommended as a “SUBSCRIBE – LISTING GAIN AND LONG TERM” for investors seeking exposure to India’s infrastructure sector.”
On whether one should apply to the public issue or not, Gaurav Goel, Founder and Director at Fynocrat Technologies, said, “Highway Infrastructure Limited is backed by a robust order book of ₹6,200 crore and a strong track record in executing highway and bridge projects across India. Profitability has improved in recent years, with PAT rising to ₹22.4 crore in FY25, while return ratios remain healthy. The company has also managed steady deleveraging, reducing its debt-equity ratio to 0.61 in FY25.”
However, Goel said that EBITDA margins remain modest at 6–7%, significantly below larger peers, and the IPO valuation at ~30x FY25 earnings appears demanding for a company of this scale. While the fundamentals are stable and sector tailwinds remain supportive, better value exists among established peers with stronger profitability.
“The IPO offers an opportunity for near-term gains on the back of sector momentum and balance sheet strength, though long-term investors may prefer larger peers trading at more attractive valuations,” Gaurav Goel of Fynocrat Technologies said.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Businessconnect. We advise investors to check with certified experts before making any investment decisions.
