Bharat Highways InvIT IPO will raise around ₹2500 crores via IPO which will consist of a fresh issue of 2500 crores. This company was established to acquire, manage and invest in a portfolio of infrastructure assets in India.The net proceeds from the issue shall be utilized towards providing loans to the Project SPVs for repayment/ pre-payment, in part or in full, of their respective outstanding loans and general purposes.
Bharat Highways InvIT’s initial portfolio comprises seven road assets operating on a Hybrid Annuity Model (HAM) basis in various states across India, including Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh.
ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities are the appointed book-running lead managers for the issue of Bharat Highways InvIT IPO. KFin Technologies has been appointed as the registrar of the IPO launch.
Bharat Highways InvIT IPO will open for subscription on 28 February, 2024. The offer from sale is of approx 250,000,000 Equity shares of face value ₹10 Per Equity Share. The IPO Price band is set to ₹98 to ₹100 Per Share. This stock will get listed on both NSE and BSE. Institutional investors can bid for a maximum of 75% of the net issue while the non-institutional investor portion has been fixed at not less than 25% of the net issue.
The Bharat Highways InvIT IPO will have a minimum market lot size of 150 shares with ₹15,000 application amount. One lot will be of 150 shares with minimum investment of ₹15,000. The maximum lot size allowed for retails investor is 13, with 1950 shares with maximum investment of ₹195,000.
The IPO will open on February 28, 2024 and IPO will close on March 1,2024. The allotment of
Bharat Highways InvIT share will happen on March 4, 2024 and refund for non alloted particpant will happen on March 5, 2024.The credit of Bharat Highways InvIT share shares to demat account will happen March 5,2024.
The IPO will be finally listed on March 6, 2024.
Bharat Highways InvIT recently report a revenue of ₹388.54 crore with Profit after tax of ₹101.35.
