Highways Infrastructure Ltd's IPO Skyrockets with 7.47x Subscription
Highways Infrastructure Ltd's IPO was fully subscribed within hours. The offering received a 7.47 times subscription, raising Rs 130 crore, including Rs 23.40 crore from anchor investors. Funds will support working capital and corporate needs. The company's shares will list on BSE and NSE.
- Country:
- India
The initial public offering (IPO) of Highways Infrastructure Ltd witnessed an overwhelming response, with the bid exceeding expectations by being fully subscribed within hours of opening on Tuesday.
Remarkably, the offering received bids for 11,97,90,186 shares against the 1,60,43,046 shares available, translating into a 7.47 times subscription, as per data from the National Stock Exchange (NSE) at 11:45 AM.
Highways Infrastructure Ltd, which specializes in tollway collection, EPC projects, and real estate development, intends to utilize Rs 65 crore from the fresh issue to augment its working capital and allocate the remainder for general corporate purposes.
(With inputs from agencies.)
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