Highway Infrastructure IPO subscribed 211 times, GMP soars to 57%
What's the story
The initial public offering (IPO) of Highway Infrastructure has witnessed an overwhelming response from investors. The share sale, which ends today, was subscribed over 211 times by 2:20pm according to National Stock Exchange (NSE) data. This means that the number of shares bid for has far exceeded the number of shares available in the market.
Investor interest
Breaking down the subscription levels
The non-institutional investors category has shown the most interest in Highway Infrastructure's IPO, with a whopping 360.81 times subscription. Retail individual investors have also shown considerable interest, with their quota subscribed 131.27 times. Meanwhile, the qualified institutional buyers' portion has been subscribed 102.31 times, according to NSE data. At the time of writing, the gray market premium for the issue stood at 57%.
Key info
IPO details
The IPO comprises a fresh issue of 1.39 crore shares worth ₹97.52 crore and an offer for sale of 46.4 lakh shares worth ₹32.48 crore by existing promoters. The price band is set at ₹65-70 per share. The tentative listing date on the exchanges is August 12, 2025. Founded in 1995, Highway Infrastructure is involved in tollway collection, EPC projects, and real estate development. The Indore-based company specializes in building and maintaining roads, highways, bridges as well as residential projects.