February 28, 2023
New Delhi, India
Bharat Highways InvIT IPO
Investors are eyeing the latest opportunity in India’s infrastructure sector as Bharat Highways InvIT IPO opens for subscription. With a focus on highways, this infrastructure investment trust presents a promising investment avenue. Let’s delve into the details.
Company Overview
Bharat Highways InvIT operates as an infrastructure investment trust, managing a portfolio of seven highways across states like Uttar Pradesh, Gujarat, Andhra Pradesh, Maharashtra, and Punjab. These highways operate under the Hybrid Annuity Model (HAM) and are managed by Project SPVs, wholly owned by GRIL.
Financial Performance
In the financial year from March 2022 to March 2023, Bharat Highways InvIT saw an impressive surge of 738.34% in profit after tax (PAT), despite a slight revenue decline of 3.92%. This robust bottom-line growth reflects the company’s operational efficiency and potential for future expansion.
IPO Details
The IPO is a book-built issue, aiming to raise ₹2,500 crores by offering 25 crore fresh shares at a price band of ₹98 to ₹100 per share. The proceeds will be utilized for general purposes and to provide loans for debt repayment to Project SPVs.
Subscription and Listing Timeline
Investors have the opportunity to subscribe to the IPO starting on February 28 until March 1. Provisionally, the basis of allotment is set to be determined by March 4, with refunds expected to be processed on March 5, and shares will be credited to demat accounts on the same day. The projected listing on both BSE and NSE is slated for March 6.
Grey Market Premium (GMP)
As per reports, the grey market premium for Bharat Highways InvIT IPO stands at ₹0, indicating neutral sentiment among investors.
Lead Managers and Registrars
HDFC Bank Limited, Axis Capital Limited, IIFL Securities Limited, and ICICI Securities Limited are serving as lead managers for the IPO, with KFin Technologies Limited as the registrar.
Investment Manager and Sponsor
The investment manager for this venture is GR Highways Investment Manager Private Limited, while Aadharshila Infratech Private Limited assumes the role of the sponsor.
Conclusion
Bharat Highways InvIT IPO presents an opportunity for investors to participate in India’s infrastructure growth story. With a solid portfolio and impressive financial performance, the IPO is likely to attract considerable attention from investors seeking exposure to the infrastructure sector.
Also Check: Rupee vs Dollar
Also Read: UK And Japan’s Recession: Why Major Economies Are Facing Economic Downturn?
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
