Highway Infrastructure lists at 67% premium, strongest debut this year
What's the story
Highway Infrastructure Limited made a stellar debut on the stock exchanges today. The company's shares were listed at ₹117 per share on the BSE and ₹115 per share on the NSE. This translates to a premium of 67.14% and 64.29%, respectively, over its issue price of ₹70 per share. This is the biggest listing gain of 2025 so far. The strong market debut comes after Highway Infra's IPO was subscribed over 300 times from August 5-7 in the primary market.
Market capitalization
Shares command a market cap of ₹839.13 crore
Post-listing, Highway Infra's shares commanded a total market cap of ₹839.13 crore. The company had previously raised ₹23.4 crore from anchor investors such as HDFC Bank and Abans Finance Pvt Ltd. The Highway Infra IPO consisted of a fresh issue worth ₹97.5 crore and an offer for sale worth ₹32.5 crore, totaling ₹130 crore. The proceeds from this will be used to meet working capital requirements and for general corporate purposes.
Company overview
Company operates in tollway collection and EPC infrastructure projects
Highway Infra primarily operates in tollway collection and EPC infrastructure projects, with a small foray into real estate development. As of May 2025, the company's consolidated order book stood at ₹666.3 crore, with over 90% coming from its core toll and EPC segments. The company has completed 27 tollway projects so far and is operating four ANPR-enabled ones on the Delhi-Meerut Expressway. Highway Infra reported a FY25 net profit of ₹22.4 crore, up 4.6% YoY, on revenues of ₹495.7 crore.