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Highway Infrastructure IPO – Review, Allotment, Subscription, GMP & DRHP

Highway Infrastructure Limited basically engaged in projects of roads, highway, by passes, express ways, bridges, flyovers, construction of residential flats etc. The registered office is located in Indore, Madhya Pradesh. Highway Infrastructure IPO comprises of 34,76,000 Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Highway Infrastructure IPO release date, IPO offer price, subscription, Highway Infrastructure IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Highway Infrastructure IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Highway Infrastructure Limited  IPO

Highway Infrastructure IPOHighway Infrastructure Limited basically engaged in projects of roads, highway, by passes, express ways, bridges, flyovers, construction of residential flats etc. The registered office is located in Indore, Madhya Pradesh. The Issue comprises of a Public Issue of 34,76,000 Equity Shares of Face Value of Rs. 10/- each for Cash at a Price of Rs. 68 Per Equity Share. Net Pubic issue constitutes of 94.94% of the Issue Size whereas Market reservation constitutes 5.06%. The Issue and the Net Issue will constitute 26.52 % and 25.18% respectively of the Post Issue paid up Equity Share Capital of the Company.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,

  • In Fiscals 2016 and 2017 and 2018 their revenue from operation, as per the Restated Financial Information were Rs. 6102.62 lakhs, Rs. 8014.14 lakhs and Rs. 9,462.81 lakhs, respectively
  • In Fiscals 2016 and 2017 and 2018 their profit after tax, as per the Restated Financial Information was Rs. 430.49 lakhs, Rs. 413.38 lakhs and Rs. 489.64 lakhs, respectively.
  • They have been able to increase their total revenue from Fiscal 2016 to Fiscal 2018 at a CAGR of 24.52% and their profit after tax at a CAGR of 6.65% over the same period.

The Promoter of this company is Mr. Anoop Agrawal and Mr. Arun Kumar Jain. The lead manager to the issue is Monarch Networth Capital Limited and the Registrar to this issue is Bigshare Services Private Limited .


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Highway Infrastructure IPO Date

The opening and the closing date of Highway Infrastructure Limited IPO is not known yet.


Highway Infrastructure IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Highway Infrastructure IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Highway Infrastructure IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Highway Infrastructure IPO Equity Share Offering

Public Issue Of 34,76,000 Equity Shares of Face Value of Rs.10/- each of Highway Infrastructure Limited for Cash at a Price of Rs. 68/- Per Equity Share aggregating to Rs. 2363.68 Lakhs


Highway Infrastructure Limited – Company Overview

Highway Infrastructure Limited, a partnership firm, that was converted into a Private Limited Company in the name and style of Highway Infrastructure Private Limited under the provision of the companies Act, 1956. A fresh Certificate of Incorporation consequent upon conversion of Company to public limited Company and consequent change of name to Highway Infrastructure Limited was issued on May 04, 2018 by the Registrar of Companies, Gwalior,MP.

The Company is basically engaged in projects of roads, highway, by passes, express ways, bridges, flyovers, construction of residential flats etc. This company‘s name has become famous with the quality construction business in Indore, Bhopal, Dhar, Hoshangabad and other nearby places. The Company also specializes in maintenance and operation of Roads & Highway and also other activities related to infrastructure projects. The company has evolved over the years and with the help of technical staff has now become a key player in highway projects.

The Company is promoted by Mr. Anoop Agrawal and Mr. Arun Kumar Jain and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Highway Infrastructure Limited:

  • Experienced promoters and Management Expertise
  • An Integrated In-House Project Team With Strong Execution Capabilities
  • Strong Track Record Of Completed Infrastructure
  • Client Centric Approach
  • Quality Assurance And Standards

Business strategies of Highway Infrastructure Limited:

  • Continue Focusing On Roads And Highways Projects While Selectively Expanding the Geographic Footprint.
  • Attract, Train And Retain Qualified Personnel
  • Continue Focusing On Enhancing Execution Efficiency
  • Capitalize On The Growth Opportunities In The Indian Infrastructure Industry
  • Develop relationship with the clients and optimize their client mix
  • Continue to focus on quality and timely project delivery
  • Capturing the high growth opportunities in the Infrastructure segment

Highway Infrastructure Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets9,161.4810314.326846.895811.086976.78
Total Revenue9541.208098.566361.628949.396017.16
Total Expense8806.727470.855788.218530.295530.71
Profit After Tax489.65413.38430.50332.42347.79

Earnings per Equity Share (in Lakhs)

31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Basic & Diluted (pre-bonus)5.0847.2149.1737.9639.72
Basic & Diluted (post-bonus)5.084.294.473.453.61

From the above statements, one could find that the Highway Infrastructure Limited may perform well.


Highway Infrastructure IPO – Promoters

The Promoter of this company are:

  1. Mr. Anoop Agrawal
  2. Mr. Arun Kumar Jain

List of Related Parties (Key Managerial Personnel)

  • Mr. Arun Kumar Jain
  • Mr. Anoop Agrawal
  • Mr. Anil Kumar Patil
  • Mrs. Aarti Thakur Parihar

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Highway Infrastructure IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered 34,76,000 Equity Shares of Face Value of Rs. 10/- each for Cash at a Price of Rs. 68 Per Equity Share (Including a Share Premium of Rs. 58 per Equity Share) aggregating to Rs. 2363.68 lakhs
 Of which:
 Reserved for Market Makers 1,76,000 Equity Shares of Rs.10/- each for cash at a price of Rs. 68 per share aggregating Rs. 119.68 lakhs
 Net Issue to the Public 33,00,000 Equity Shares of Rs.10/- each for cash at a price of Rs. 68 per share aggregating Rs. 2244.00 lakhs
 Of which:
 Retail Investors Portion 16,50,000 Equity Shares of Rs.10/- each for cash at a price of Rs. 68 per share ( including a premium of Rs. 58 per Equity Share) will be available for allocation for allotment to Retail Individual Investors of up to Rs.1122.00 Lakhs
 Non-Retail Investors Portion16,50,000 Equity Shares of Rs.10/- each for cash at a price of Rs. 68 per share ( including a premium of Rs. 58 per Equity Share) will be available for allocation for allotment to Other Investors of above Rs.1122.00 Lakhs
 Equity Shares outstanding prior to the Issue96,31,534 Equity Shares of face value of Rs.10 each
 Equity Shares outstanding after the Issue1,31,07,534 Equity Shares of face value of Rs.10 each

Highway Infrastructure IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company
  • Issue Expenses
  •  General Corporate Purposes

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Highway Infrastructure IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Experienced promoters and Management Expertise
  • An Integrated In-House Project Team With Strong Execution Capabilities
  • Strong Track Record Of Completed Infrastructure

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-1649.1716.90290.95
31-Mar-1747.2114.09335.15
31-Mar-185.0814.3035.55
  • Industry P/E Ratio:
ParticularsP/E ratio
Average35.78
Highest67.07
Lowest4.51
  • Competitive Peers:
ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
Highway Infrastructure
Limited
1.005.0813.3914.3035.55
Sadbhav
Infrastructure Project
1.001.9267.054.8339.80

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Highway Infrastructure IPO Lead Managers

Lead Managers
MONARCH NETWORTH CAPITAL LIMITED,
Address – Monarch House, Opp., Ishwar Bhuvan, Commerce Six Road,
Navrangpura, Ahmedabad – 380014. Tel. No. – 079 – 6600 0500/ 700
Website: https://www.mnclgroup.com Email:
Investor Grievance Email:
Contact Person: Mr. Anshit Acharya /Mr. Jigar Chandarana
SEBI Regn. No. MB/ INM000011013

Highway Infrastructure IPO Registrar to offer

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED,
Address – E-2/3, Ansa Industrial Estate, Sakivihar Road, Saki Naka, Andheri
(E), Mumbai- 400072. India. Tel. No. – +91-022- 6263 8200
Website: www.bigshareonline.com Email:
Investor Grievance Email:
Contact Person: Mr. Prem Kumar SEBI Regn. No. INR000000221

Other Details:

  • Statutory Auditor –  M/s. Sarda Kasat & Co. Chartered Accountants
  • Peer Review Auditor – M/S. S.D. Mota & Associates
  • Bankers to the Company – AXIS BANK LIMITED and YES BANK LIMITED

Highway Infrastructure IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Highway Infrastructure IPO Grey Market Premium

The Highway Infrastructure IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Highway Infrastructure IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)


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