Bharat Highways InvIT IPO To Open On February 28 – At Rs 98 To Rs 100 Per Share

Bharat Highways Infrastructure Investment is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India is set to open on February 28.

InvIT Details

The Upcoming IPO of Bharat Highways will be open for subscription from February 28 and will close on March 1, eventually listing on March 6, 2024. The price band for the IPO is set at Rs 98 to Rs 100, with a lot size of 150 shares.

The total issue size of the IPO is Rs 2500 crore, comprising solely of a fresh issue of 25 crore shares, and it will be listed on both the BSE and NSE exchanges.

Furthermore, it is to be noted that this upcoming InvIT IPO is open only for QIB and NII or HNI categories and not for the retail category. Hence, retail category investors would not be able to participate in this IPO. Whereas QIBs can subscribe up to 75% of the total issue, and NII/HNI have a minimum subscription of 25% of the Net Issue.

ICICI Securities Limited, Axis Bank Limited, HDFC Bank Limited, and IIFL Securities Ltd serve as the book-running lead managers for the upcoming Bharat Highways InvIT IPO. Kfin Technologies Limited is the appointed registrar for the issue.

Object of the Issue

The net proceeds will be utilised by the InvIT towards:

• Providing loans to the Project SPVs for repayment/pre-payment, in part or in full, of their respective outstanding loans (including any accrued interest and prepayment penalty)
• General purposes.

Financial Information

Amount in Rs Crore

InvIT Overview

Bharat Highways Infrastructure Investment is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. The Trust is authorised to carry out the activities of an infrastructure investment trust under the SEBI InvIT Regulations.

The company’s portfolio consists of seven roads, all of which are operated on an HAM basis in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. These roads are operated and maintained based on concession rights granted by the NHAI and are owned and operated by the Project SPVs, which are currently wholly owned by GRIL.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.