New Delhi: Shares of Highway Infrastructure Ltd made a powerful debut on the stock exchanges on Tuesday, listing at a premium of over 67 percent compared to its issue price of Rs 70 per share.
The stock started trading at Rs 117 on the BSE, rising 67.14 percent, while on the NSE, it opened at Rs 115, gaining 64.28 percent.
After listing, the company’s total market value stood at Rs 881.02 crore.
IPO Received Huge Response
The company had launched its Rs 130-crore Initial Public Offer (IPO) last week. The offer received an overwhelming response from investors, getting subscribed a massive 300.61 times by the closing day.
The IPO had a price band of Rs 65–70 per share.
It included:
- A fresh issue of 1.39 crore shares worth Rs 97.52 crore, and
- An offer for sale of 46.4 lakh shares worth Rs 32.48 crore
What Does the Company Do?
Highway Infrastructure Ltd (HIL) was founded in 1995 and is based in Indore, Madhya Pradesh.
The company is involved in:
- Toll collection
- EPC (Engineering, Procurement & Construction) projects
Real estate development
Its main focus is on building and maintaining roads, highways, bridges, and residential buildings.
Over the years, HIL has built a strong presence in infrastructure development and continues to grow its footprint across the country.
A Bright Start for Investors
Investors who got allotment in the IPO saw strong gains right from the listing. The strong debut reflects positive investor sentiment and confidence in the infrastructure sector.
Experts say that the huge demand for the IPO and the strong listing indicate good growth potential for the company in the coming years.
