Bharat Highways InvIT IPO: Everything you need to know

23 Feb 2024 , 09:42 AM

Bharat Highways InvIT IPO presents a compelling opportunity for investors to participate in India’s infrastructure growth story. Here’s everything you need to know about this upcoming IPO:

IPO Details:

• Issue Size: Rs 2,500.00 crores
• Fresh Issue: 25 crore shares

Subscription Period:

• Opens: February 28, 2024
• Closes: March 1, 2024

Allotment and Listing:

• Allotment: Expected on Monday, March 4, 2024
• Listing: Tentatively scheduled for Wednesday, March 6, 2024, on BSE and NSE

Price Band:

• Set at ₹98 to ₹100 per share
• Minimum Lot Size: 150 Shares

Reservation:

• QIB Shares Offered: Not more than 75% of the Offer Size
• NII (HNI) Shares Offered: Not less than 25% of the Net Issue

Utilization of Proceeds:

• Providing loans to Project SPVs for repayment/pre-payment of outstanding loans
• General purposes

Bharat Highways Infrastructure Investment is an infrastructure investment trust (InvIT) that specializes in acquiring, managing, and investing in a diverse portfolio of infrastructure assets across India. Authorized under the SEBI InvIT Regulations, the Trust operates within a regulated framework to carry out its activities.

The company’s portfolio comprises seven roads strategically located in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. These roads operate under the Hybrid Annuity Model (HAM) and are maintained through concession rights granted by the National Highways Authority of India (NHAI). Each road is owned and operated by specific Project Special Purpose Vehicles (SPVs), which are presently fully owned by GRIL.

Lead Managers and Registrar:

• Lead Managers: ICICI Securities Limited, Axis Bank Limited, HDFC Bank Limited, IIFL Capital Services Ltd
• Registrar: KFin Technologies Limited