Highway Infrastructure IPO Description – Highway Infrastructure is an infrastructure development and management company actively involved in tollway collection, EPC (Engineering, Procurement, and Construction) infrastructure projects, and the real estate sector. While its operations span various facets of infrastructure development and management, tollway collection represents a major contributor to its revenue and financial performance. As of 31 August 2024, the company’s consolidated order book stood at INR 596.38 crore, with INR 314.96 crore attributed to the tollway collection business and INR 281.42 crore to the EPC Infra segment.
HIL is among the select toll operators utilizing ANPR (Automatic Number Plate Recognition) technology for tollway collection on the Delhi-Meerut Expressway. The company has managed toll operations on prominent inter-state and intra-state expressways across 11 states and one Union Territory, showcasing its expertise in advanced toll management systems. As of 31 August 2024, the company has 398 employees.
As of 31 August 2024, Highway Infrastructure has completed 24 tollway collection projects and is currently operating 7 tollway collection projects. In the EPC Infra segment, the company has completed 63 projects, with 20 projects currently under execution. Its ongoing projects are located in Indore, Ratlam, and Khandwa in Madhya Pradesh, India. Additionally, the company has participated in and completed initiatives under various government schemes, including the Pradhan Mantri Awas Yojna (PMAY), Pradhan Mantri Gram Sadak Yojna (PMGSY), and Jal Jeevan Mission.
Promoters of Highway Infrastructure – Arun Kumar Jain, Anoop Agrawal, and Riddharth Jain
Table of Contents
Highway Infrastructure IPO Details
| Highway Infrastructure IPO Dates | 5 – 7 August 2025 |
| Highway Infrastructure IPO Price | INR 65 – 70 per share |
| Fresh issue | INR 97.52 crore |
| Offer For Sale | 46,40,000 shares (INR 30.16 – 32.48 crore) |
| Total IPO size | INR 127.68 – 130 crore |
| Minimum bid (lot size) | 211 shares (INR 14,770) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Highway Infrastructure Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 455.13 | 573.45 | 495.72 |
| Expenses | 437.34 | 546.65 | 474.22 |
| Net income | 13.80 | 21.41 | 22.40 |
| Margin (%) | 3.03 | 3.73 | 4.52 |
Highway Infrastructure Offer News
- Highway Infrastructure RHP
- Highway Infrastructure DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Highway Infrastructure Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre-Issue) | FY 2025 (Post-Issue)* | |
| EPS | 2.03 | 3.28 | 3.40 | 3.13 |
| PE Ratio | – | – | 19.12 – 20.59 | 20.8 – 22.4 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 18.45 | 21.37 | 19.03 |
| NAV | 12.95 | 17.34 | 20.37 |
| ROCE (%) | 19.47 | 24.45 | 16.56 |
| EBITDA (%) | 6.08 | 6.70 | 6.32 |
| Debt/Equity | 0.85 | 0.69 | 0.61 |
Highway Infrastructure IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 11 August 2025 | 24 | – | 3,800 |
| 8 August 2025 | 37 | – | 6,400 |
| 7 August 2025 | 38 | – | 6,400 |
| 6 August 2025 | 40 | – | 6,500 |
| 5 August 2025 | 40 | – | 6,500 |
| 4 August 2025 | 40 | – | 6,500 |
| 2 August 2025 | 30 | – | 5,000 |
| 1 August 2025 | 25 | – | 4,000 |
| 31 July 2025 | 25 | – | 4,000 |
| 30 July 2025 | 25 | – | 4,000 |
| 29 July 2025 | 25 | – | 4,000 |
| 28 July 2025 | 25 | – | 4,000 |
Highway Infrastructure IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding working capital requirements of the company – INR 65 crore
- General corporate purposes
Highway Infrastructure IPO – Peer Comparison
| Name of the Company | PE Ratio | EPS | RoNW (%) | NAV | Revenue (Cr.) |
| Highway Infrastructure | 22.4 | 3.4 | 19.03 | 20.37 | 495.7.15 |
| Udayshivakumar Infra | NA | (1.18) | (4.28) | 30.43 | 289.13 |
| IRB Infrastructure Developers | 44.38 | 1.12 | 36.69 | 32.83 | 7,613.4.67 |
Highway Infrastructure IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 22,92,914 | 58,92,914 | 78,57,218 | 1,60,43,046 |
| 7 Aug 2025 | 420.57 | 447.29 | 155.51 | 300.57 |
| 6 Aug 2025 | 7.10 | 97.70 | 73.55 | 72.92 |
| 5 Aug 2025 | 4.92 | 33.45 | 28.69 | 27.04 |
33,42,856 shares allotted to anchor investors are not included in these calculations.
Highway Infrastructure IPO Dates & Listing Performance
| IPO Opening Date | 5 August 2025 |
| IPO Closing Date | 7 August 2025 |
| Finalization of Basis of Allotment | 8 August 2025 |
| Initiation of refunds | 11 August 2025 |
| Transfer of shares to demat accounts | 11 August 2025 |
| Highway Infrastructure IPO Listing Date | 12 August 2025 |
| Opening Price on NSE | INR 115 per share (up 64.29%) |
| Closing Price on NSE | INR 120.75 per share (up 72.50%) |
Highway Infrastructure IPO Reviews – Subscribe or Avoid?
Angel One –
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Antique Stock Broking –
Ajcon Global –
Arihant Capital –
Axis Capital – Not rated
Ashika Research –
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities –
Choice Broking –
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IIFL Capital – Not rated
Elite Wealth – Apply
GCL Broking –
Geojit –
GEPL Capital – Avoid
Hem Securities –
Hensex Securities –
HDFC Securities –
ICICIdirect –
IDBI Capital –
Investmentz – Not rated
Indsec Securities –
Jainam Broking – Subscribe for long term
KR Choksey –
LKP Research –
Marwadi Financial – Subscribe
Motilal Oswal –
Mehta Equities –
Nirmal Bang –
Reliance Securities –
Sushil Finance –
Samco Securities – Not rated
SBI Securities – Avoid
SMC Global – 2/5
SMIFS –
Systematix Research –
Swastika Investmart –
Ventura Securities – Subscribe
Highway Infrastructure Offer Lead Manager
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
Pantomath Nucleus House, Saki Vihar Road,
Andheri East, Mumbai – 400 072 Maharashtra, India
Phone: 18008898711
Email: [email protected]
Website: www.pantomathgroup.com
Highway Infrastructure Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Pinnacle Business Park,
Mahakali Caves Road, next to Ahura Centre,
Andheri East, Mumbai- 400093, Maharashtra
Phone: +91 22 6263 8200
Email: [email protected]
Website: www.bigshareonline.com
Highway Infrastructure Contact Details
HIGHWAY INFRASTRUCTURE LIMITED
57-FA, Scheme no. 94, Pipliyahana Junction,
Ring Road, Indore – 452016 Madhya Pradesh
Phone: +91 731 4047177
Email: [email protected]
Website: www.highwayinfrastructure.in
Highway Infrastructure IPO FAQs
How many shares in the Highway Infrastructure IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for the Highway Infrastructure Public Offer?
The best way to apply for the Highway Infrastructure public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is the Highway Infrastructure IPO GMP today?
Highway Infrastructure IPO GMP today is INR 24 per share.
What is the Highway Infrastructure kostak rate today?
Highway Infrastructure kostak rate today is INR NA per application.
What is Highway Infrastructure Subject to Sauda rate today?
Highway Infrastructure Subject to Sauda rate today is INR 3,800 per application.