š Highway Infrastructure IPO Skyrockets on Debut
Highway Infrastructure Limited delivered a stellar stock market debut on Tuesday, posting the highest listing gains of 2025.
The shares opened at ā¹117 on the BSE ā a 67.1% premium of ā¹47 over the issue price of ā¹70 ā and at ā¹115 on the NSE, up 64.3%, according to Economic Times.
The ā¹130-crore IPO, which was open from August 5 to 7, saw an overwhelming investor response with total subscriptions hitting an extraordinary 316.64 times. Non-institutional investors led the charge with bids 473.10 times the allotted quota, followed by qualified institutional buyers at 432.71 times, and retail investors at 164.48 times.
The issue comprised a fresh sale of 1.39 crore shares worth ā¹97.52 crore and an offer for sale of 0.46 crore shares valued at ā¹32.48 crore by promoters.
Interestingly, grey market activity ahead of the listing had indicated a 34% premium, with most expectations placing the debut near ā¹94 ā far below the eventual opening price.
Highway Infrastructure operates in toll collection, engineering-procurement-construction (EPC) projects, and selective real estate development. Its toll business ā the primary revenue driver ā spans 11 states and one Union Territory. The company also deploys advanced Automatic Number Plate Recognition (ANPR) and RFID-based toll systems, including on the DelhiāMeerut Expressway.
As of August 2024, the company had completed 24 tollway projects and was operating seven more. It had also delivered 63 EPC works with 20 projects currently underway.
In FY25, the company posted a revenue of ā¹504.48 crore, down 13% from FY24, but net profit rose 5% to ā¹22.40 crore. IPO proceeds will be used to fund ā¹65 crore in working capital, with the remainder earmarked for general corporate purposes.
Highway Infrastructureās IPO is now the most subscribed in Indiaās infrastructure sector in 2025 and the third most subscribed in the nationās history.
Commenting on the landmark listing, Managing Director Arun Jain said:
āThe record subscription is a testament to investor confidence in our track record and our vision for the future.ā
