Highway Infrastructure is coming with its IPO worth ₹130 Cr, which is a combination of fresh issue of ₹97.52 Cr and OFS of ₹32.48 Cr. Highway Infrastructure IPO opens for subscription on 5 Aug 2025 and will close on 7 Aug 2025. The allotment of shares is expected to be finalized on 8 Aug 2025 and the shares are likely to be listed on BSE & NSE on 12 Aug 2025. The price band for IPO is set between ₹65 to ₹70 per share.
About Highway Infrastructure IPO
M&B Engineering, established in 1981, is a company that designs and builds steel structures like pre-engineered buildings (PEBs) and self-supported roofing systems. These are used in factories, warehouses, power plants, and other large buildings. The company handles everything from design and engineering to manufacturing and installation, ensuring safe and high-quality structures.
Highway Infrastructure, founded in 1995, is an Indian company that builds and manages roads, highways, and bridges. It also works in toll collection, real estate, and infrastructure construction projects. The company is involved in three main areas:
- Toll Collection
HIL collects tolls on highways across 11 states and 1 Union Territory. It uses modern technologies like ANPR (Automatic Number Plate Recognition) and RFID-based Electronic Toll Collection (ETC) for smooth payments. As of August 2024, it has completed 24 toll projects and is currently running 7 tollways, including on Delhi-Meerut Expressway.
- Infrastructure Projects (EPC)
HIL designs and builds roads, bridges, water tanks, irrigation systems, and buildings. It manages the full project cycle with its in-house team. By August 2024, the company had completed 63 such projects and was working on 20 more, mainly in Madhya Pradesh (Indore, Ratlam, and Khandwa).
- Real Estate
HIL also develops and sells residential and commercial properties, including gated communities. However, this is the company’s smallest business segment.
Highway Infrastructure IPO Highlights
- Highway Infrastructure’s IPO is worth ₹130 Cr and the price band is set between ₹65 to ₹70.
- The IPO is a combination of 1.39 Cr shares aggregating to ₹97.52 Cr and OFS of 0.46 Cr shares aggregating to ₹32.48 Cr.
- Highway Infrastructure’s IPO will open for subscription on 5 Aug 2025 and close on 7 Aug 2025. Share allotment is likely to take place on 8 Aug 2025 and the shares are expected to be listed on BSE and NSE on 12 Aug 2025.
- Promoters currently hold 94.95% of the company but after the IPO, their shareholding will come down.
- The company plans to use ₹65 Cr to fund its working capital needs and for general corporate purposes.
- Bigshare Services Pvt Ltd will be the registrar for Highway Infrastructure's IPO.
Highway Infrastructure IPO GMP
As of 27 July 2025, Highway Infrastructure GMP is trading at ₹25 up from the upper price band of ₹70, shares are expected to list at ₹95, which represents 35.71%. In the coming days, GMP may change, and we’ll keep updating as new details come in.
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- Date: 8 Aug 2025
- Highway Infrastructure GMP: ₹36 ( 51.43%)
- Date: 7 Aug 2025
- Highway Infrastructure GMP: ₹36 ( 51.43%)
- Date: 6 Aug 2025
- Highway Infrastructure GMP: ₹40 ( 57.14%)
- Date: 5 Aug 2025
- Highway Infrastructure GMP: ₹38 ( 54.29%)
- Date: 4 Aug 2025
- Highway Infrastructure GMP: ₹40 ( 57.14%)
- Date: 3 Aug 2025
- Highway Infrastructure GMP: ₹40 ( 57.14%)
- Date: 2 Aug 2025
- Highway Infrastructure GMP: ₹40 ( 57.14%)
- Date: 1 Aug 2025
- Highway Infrastructure GMP: ₹34 ( 44.29%)
- Date: 31 July 2025
- Highway Infrastructure GMP: ₹31 ( 48.57%)
- Date: 30 July 2025
- Highway Infrastructure GMP: ₹25 ( 35.71%)
- Date: 29 July 2025
- Highway Infrastructure GMP: ₹25 ( 35.71%)
- Date: 28 July 2025
- Highway Infrastructure GMP: ₹25 ( 35.71%)
- Date: 27 July 2025
- Highway Infrastructure GMP: ₹25 ( 35.71%)
How can you apply for Highway Infrastructure IPO?
Retail investors can apply for a minimum of 1 lot, which includes 211 shares costing ₹14,770. Maximum investment allowed for retail investors is 13 lots which totals 2743 shares and costs ₹1,92,010.
| Application | Lots | Shares | Amount |
|---|---|---|---|
|
Retail (Min) |
1 |
211 |
₹14,770
|
|
Retail (Max) |
13 |
2,743 |
₹1,92,010
|
|
S-HNI (Min) |
14 |
2,954 |
₹2,06,780
|
|
S-HNI (Max) |
64 |
14,137 |
₹9,89,590
|
|
B-HNI (Min)
|
68 |
14,348 |
₹10,04,360
|
Highway Infrastructure IPO Financial
Highway Infrastructure reported a PAT of ₹22.40 Cr in 31 March 2025 and in FY24 reported ₹21.41 Cr. Over the past 3 years, its profit has been continuously improving. All financial details are provided in the table below.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
|
Assets (₹ Crores) |
231.56
|
202.63
|
156.59
|
|
Revenue (₹ Crores) |
504.48
|
576.58
|
456.83
|
|
PAT (₹ crores)
|
22.40
|
21.41
|
13.80
|
|
EBITA(₹ Crores) |
31.32
|
38.44
|
27.69
|
|
Net Worth (₹ Crores) |
117.72
|
100.19
|
74.81
|
|
Reserves and Surplus (₹ Crores) |
83.90
|
83.49
|
64.44
|
|
Total Borrowing (₹ Crores) |
71.82
|
69.62
|
63.36
|
Highway Infrastructure IPO Peer Comparison
Highway Infrastructure has the lowest EPS compared to its peers H.G Infra, which is not a very good sign for investors. Below is a quick comparison of Highway Infrastructure and its peers.
| Company | EPS Diluted | P/E(x) |
|---|---|---|
|
Highway Infrastructure
|
3.4
|
-
|
|
Udayshivakumar Infra
|
-1.18
|
- |
|
IRB Infrastructure Developers
|
1.12
|
44.38 |
|
H.G. Infra Engineering
|
75.04
|
14 |
Highway Infrastructure IPO Quota Allocation
- QIB Investors: 30% of the net issue
- Retail Investors: 40% of the net issue
- NII (HNI) Investors: 30% of the net issue
Listing Date of Highway Infrastructure IPO
- Subscription Period: 5 Aug to 7 Aug 2025
- Basis of Allotment Finalization: 8 August 2025
- Initiation of Refunds: 11 Aug 2025
- Demat Credits: 11 Aug 2025
- Listing Date: 12 Aug 2025
- Listing on: BSE, NSE
Strengths and Weaknesses of Highway Infrastructure IPO
Knowing about the strengths and weaknesses of any IPO helps you make an informed decision.
- The company has nearly 30 years of experience in toll collection and construction projects.
- It was one of the first to use advanced ANPR technology for tolls on major expressways.
- It handles projects in many Indian states, helping it reach more markets.
- Strong order book and trusted by many industries.
- It operates on a smaller scale compared to big players in the industry.
- Needs a lot of working capital, which can affect cash flow.
- Depends on government tenders, which come with uncertainty.
- Its construction (EPC) business brings in less revenue, reducing income diversity.
- It is affected by changes in government rules and policies for infrastructure.
Highway Infrastructure IPO FAQs (Frequently Asked Questions)
What is the total issue size of Highway Infrastructure’s IPO?
The total size of Highway Infrastructure’s IPO is ₹130 Cr.
When will Highway Infrastructure IPO open and close?
Highway Infrastructure’s IPO will open for subscription on 5 Aug 2025 and close on 7 Aug 2025.
What is the lot size for Highway Infrastructure IPO?
Retail Investors can bid for a minimum of 1 lot, which includes 211 shares. And one lot will cost you around ₹14,770.
What is the share allotment date for Highway Infrastructure IPO?
The allotment of shares is expected to be completed by 8 Aug 2025.
Who is the registrar of Highway Infrastructure IPO?
Bigshare Services Pvt Ltd is the registrar for Highway Infrastructure’s IPO.
Where will Highway Infrastructure shares be listed?
The shares are planned to be listed on BSE and NSE.
Happy investing and thank you for reading!
Disclaimer:
This website content is only for educational purposes, not investment advice. Before making any investment, it’s important to do your own research and be fully informed. Investing in the stock market includes risks, and you should carefully read the Risk Disclosure documents before proceeding. Please remember that past performance doesn’t guarantee future results, and due to market fluctuations, your investment goals may not always be achieved.
