Bharat Highways InvIT IPO: Check Out Price Band, Issue Size & More


by Sandip Das on 28 February 2024,  4 min read


On February 28, 2024, Bharat Highways InvIT opened the initial public offer (IPO) for subscriptions. The company has set the IPO price band in the range of Rs 98 to Rs 100 per equity share. The subscription period will conclude on Friday, March 1, 2024. The IPO lot size is 150 equity shares and can be subscribed to in multiples of 150 equity shares thereafter.

About the company

Bharat Highways Infrastructure Investment, an infrastructure investment trust, has the purpose of acquiring, overseeing, and investing in various Indian infrastructure assets. The Trust is authorized to carry out infrastructure investment trust operations by the SEBI InvIT Regulations.

The portfolio of the company includes seven highways located in Uttar Pradesh, Gujarat, Andhra Pradesh, Maharashtra, and Punjab. These are all operated under the Hybrid Annuity Model (HAM). The Project Special Purpose Vehicles (SPVs) own and manage these roads, and they are currently fully owned by GRIL. The operation and maintenance of these roads are conducted in compliance with concession rights granted by the National Highways Authority of India (NHAI).

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Price Band

The IPO price band for Bharat Highways InvIT has been set in the range of Rs 98 to Rs 100 per equity share.

Issue Size

The Bharat Highways InvIT IPO is a book-built issue with a total value of Rs 2,500 crore. The entire issue comprises a fresh issue of 25 crore shares.

IPO Reserve Portion
  • Qualified Institutional Buyers (QIB): Not more than 75 percent of the offer size
  • Non-Institutional Investors (NII): Not less than 25 percent of the net issue.
Objectives of the issue

The net proceeds from the IPO will be utilized for general purposes and to extend loans to the Project Special Purpose Vehicles (SPVs). These loans will enable the SPVs to fully or partially repay their existing debts, encompassing any accrued interest and prepayment penalties.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.

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