Highway Infrastructure IPO Skyrockets with 73 Times Subscription
Highway Infrastructure Ltd's IPO achieved 73 times subscription by the second day, thanks largely to non-institutional and retail investors. The company, which is prominently involved in tollway collection and real estate, has its shares set to list on BSE and NSE.
- Country:
- India
On Wednesday, just two days into the bidding process, Highway Infrastructure Ltd's initial public offering (IPO) achieved a remarkable 73 times oversubscription, according to data provided by the NSE.
The IPO received bids for over 116.98 million shares against the 1.6 million shares on offer. While the non-institutional investor category was subscribed an impressive 97.70 times, the retail individual investors' quota was filled 73.55 times. The qualified institutional buyers' segment managed to reach 7.10 times subscription.
The Rs 130-crore IPO, which will close on Thursday, involves a fresh issue portion and an offer for sale. Highway Infrastructure Ltd, established in 1995 and based in Indore, operates primarily in tollway collections, EPC projects, and real estate development, with its shares soon to be available on both the BSE and NSE.
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