Bharat Highways InvIT made its debut on the stock exchanges with a subdued performance as the units were listed at ₹101 apiece on the BSE, marking a 1% premium over the issue price of ₹100 per unit. On the NSE, the listing price was ₹101.1 per unit, reflecting a 1.1% premium to the IPO price.
Bharat Highways InvIT is an infrastructure investment trust focused on acquiring, managing, and investing in a portfolio of infrastructure assets. The company’s portfolio comprises seven roads operating on a HAM basis across Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh.
The IPO of Bharat Highways InvIT, which opened for subscription from February 28 to March 1, raised ₹2,500 crore through a fresh issue of 25 crore shares. The IPO price band was set at ₹98 to ₹100 per share.
With a total subscription of 8.01 times, the IPO received bids for 82.53 crore units against the offer size of 10.30 crore units. The institutional investor category was subscribed 8.92 times, while the other investors’ category was subscribed 6.93 times.
The allotment of IPO shares was finalized on March 6, and the listing date for Bharat Highways InvIT was scheduled for March 12.
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