The ₹130 crore initial public offering of Highway Infrastructure Ltd was fully subscribed within hours of its launch on August 5, 2025, according to exchange data. By around 11:45 AM IST, the IPO had attracted bids totaling 11.98 crore shares against just 1.60 crore on offer, translating into a subscription rate of 7.47× early in the day; the tally ultimately soared to 27.04× by close of Day 1.
Retail investors led the charge, with the retail segment subscribed nearly 28.7×, while non-institutional investors booked 33.5× of their quota. Qualified institutional buyers (QIBs) contributed at 4.92× subscription. Anchor investors including HDFC Bank and Abans Finance Pvt Ltd together subscribed ₹23.4 crore ahead of the public issuance.
Priced at ₹65–70 per share, the IPO comprises a fresh issue of approximately ₹97.5 crore and an offer-for-sale of ₹32.5 crore, with lots of 211 shares for retail participants. The high grey market premium of ~57%, placing unlisted shares at ₹108 apiece, reflects strong listing expectations.
With bidding set to close on August 7 and allotment expected by August 8, listing on NSE and BSE is tentatively scheduled for August 12. Investor enthusiasm underscores confidence in HIL’s diversified mix of tollway collection, EPC, and real estate ventures, underscored by its Fastag-based toll tech footprint.
