Highway Infrastructure Ltd's IPO Skyrockets with Massive Subscription

Highway Infrastructure Ltd's initial public offering (IPO) closed with an astounding 300.61 times subscription, reflecting enormous interest from investors. On the final day, the Rs 130-crore offering drew bids for 4,82,27,45,343 shares against the 1,60,43,046 shares available, as disclosed by the NSE.

Attracting attention across investor segments, the non-institutional investors' component saw a subscription of 447.32 times, while shares earmarked for Qualified Institutional Buyers (QIBs) received bids 420.57 times over. Meanwhile, the retail investor segment recorded a subscription rate of 155.58 times.

Before the public offering, Highway Infrastructure Ltd raised Rs 23.40 crore from anchor investors, including HDFC Bank and Abans Finance Pvt Ltd. The IPO, involving a fresh issue of shares worth Rs 97.52 crore and an offer for sale amounting to Rs 32.48 crore, will list on BSE and NSE, guided by lead manager Pantomath Capital Advisors.

(With inputs from agencies.)