22-Feb-2024
2 mins read
Bharat Highways Infrastructure Investment Trust is coming up with its Initial Public Offering. This IPO is open for subscription from Wednesday, February 28, 2024 and will close on Friday, March 1, 2024. The price band is decided at Rs 98 to Rs 100 per share. The minimum lot size of this application for the retail category is 150 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 2,100 shares. Meanwhile, the minimum lot for big non-institutional investors is 67 lots with 10,050 shares. The minimum amount of investment required for retail category investors is Rs 15,000 ( 100 x 150 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,10,000 ( 100 x 2100 shares); for big non-institutional investors, it is Rs 10,05,000 (100 x 10,050 shares). Bharat Highways Infrastructure Investment Trust IPO is a book-built issue of Rs 2,500 crores. This IPO issue is completely a fresh issue of Rs 25 crore equity shares. The allotment for this IPO is expected to be finalized on Monday, March 4, 2024. Bharat Highways InvIT IPO will be listed on both BSE and NSE, and the listing date is fixed on Wednesday, March 6, 2024. The book-running lead manager of Bharat InvIT IPO is ICICI Securities Limited, HDFC Bank Limited, Axis Bank Limited, IIFL Securities Limited. The registrar for this IPO is Kfin Technologies Limited.
About Bharat Highways Infrastructure InvIT
Bharat Highways Infrastructure InvIT is a trust established to acquire and manage and invest in the portfolio of infrastructure assets in India. Bharat Highways Trust is authorized to carry on the activities of Infrastructure Investment trust under Security Exchange Board of India (SEBI) regulations. Bharat Highways portfolio consists of seven roads. All of which are operated on HAM basis in Gujarat, Andra Pradesh, Maharashtra, Uttar pradesh and Punjab. These roads are operated and maintained based on concession rights granted by the NHAI. InvIT has entered into a ROFO Agreement with GRILL under which GRILL has granted a right to first refusal over certain other assets owned and developed by GRILL. Bharat Highways Trust has been assigned a rating of CRISIL AAA/Stable.
Objectives of Bharat Highways Infrastructure InvIT IPO
The main objectives of this IPO is to raise funds from the general public which will be used to provide loans to projects SPVs for repayment and prepayment of the outstanding loans. Moreover, the general corporate purposes will also be fulfilled.
Financial Performance of Bharat Highways Infrastructure InvIT (Amt in Rs Crores)
Bharat Highways Infrastructure InvIT revenue declined by -3.92% and profit after tax increased by 738.34% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 5,916.80 | 6,056.28 | 5,536.40 | 4,943.95 |
| Revenue | 388.54 | 1,537.47 | 1,600.18 | 2,170.39 |
| Profit After Tax | 101.35 | 527.05 | 62.87 | 149.45 |
Other Important Details of Bharat Highways Infrastructure InvIT IPO
| IPO Date | February 28, 2024 to March 1, 2024 |
| Listing Date | 6-Mar-24 |
| Price Band | Rs 98 to Rs 100 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 250,000,000 shares amounting to Rs 2,500 Crore |
| Fresh Issue | 250,000,000 shares amounting to Rs 2,500 Crore |
| Issue Type | Book Built Issue |
| Listing At | BSE, NSE |
IPO Reservation of Bharat Highways Infrastructure InvIT
| Category Of Investors | Equity Shares Offered |
| Equity shares offered to the Retail Investors | Not less than 35 percent of the Net Issue |
| Equity shares offered to Non-Institutional Investors | Not less than 25 percent of the Net Issue |
Time-Table of Bharat Highways Infrastructure InvIT IPO
| IPO Open Date | Wednesday, February 28, 2024 |
| IPO Close Date | Friday, March 1, 2024 |
| Basis of Allotment | Monday, March 4, 2024 |
| Initiation of Refunds | Tuesday, March 5, 2024 |
| Credit of Shares to Demat | Tuesday, March 5, 2024 |
| Listing Date | Wednesday, March 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 1, 2024 |
Lead Manager(s) of Bharat Highways Infrastructure InvIT IPO?
The book-running lead manager for Bharat Highways Infrastructure InvIT IPO is ICICI Securities Limited, HDFC Bank Limited, Axis Bank Limited, IIFL Securities Limited.
How to Apply for Bharat Highways Infrastructure InvIT IPO?
Wait for the public issue to open for subscription, then click here to apply for the Bharat Highways Infrastructure InvIT IPO with Bigul.
How to Check Allotment Status of Bharat Highways Infrastructure InvIT IPO?
The registrar for Bharat Highways Infrastructure InvIT IPO is Kfin Technologies Limited. To check your allotment status, please click here.
FAQs
- What is Bharat Highways Infrastructure InvIT IPO 2024?
Bharat Highways Infrastructure Investment Trust IPO is a book-built issue of Rs 2,500 crores. This IPO issue is completely a fresh issue of Rs 25 crore equity shares.
The allotment for this IPO is expected to be finalized on Monday, March 4, 2024.
- What is the price band and minimum investment for the Bharat Highways Infrastructure InvIT IPO?
The price band of this IPO is set at Rs 98 to Rs 100 per share.
- Who are the lead managers for the Bharat Highways Infrastructure InvIT IPO 2024?
ICICI Securities Limited, HDFC Bank Limited, Axis Bank Limited, IIFL Securities Limited were appointed as the lead managers for the IPO.
- What is the role of Kfin Technologies Limited in this IPO?
Kfin Technologies Limited is the registrar for Bharat Highways Infrastructure InvIT, handling the IPO’s administrative aspects.
- How can I apply for the Bharat Highways Infrastructure InvIT IPO 2024?
The public subscription of this IPO will open on February 28, 2024. Visit the Bigul website for the application process.
- How will the net proceeds from the IPO be utilised?
The main objectives of this IPO is to raise funds from the general public which will be used to provide loans to projects SPVs for repayment and prepayment of the outstanding loans. Moreover, the general corporate purposes will also be fulfilled.
- How can I check the allotment status of the IPO?
Investor’s can check the allotment status of the Bharat Highways Infrastructure InvIT IPO 2024 by clicking here.
- What is the financial performance of Bharat Highways Infrastructure InvIT?
Bharat Highways Infrastructure InvIT revenue declined by -3.92% and profit after tax increased by 738.34% between the financial year ending with March 31, 2023 and March 31, 2022.
- When will the allotment get finalised and what is the listing date?
The allotment is expected to be finalised on Monday, March 4, 2024. The listing date of Bharat Highways Infrastructure InvIT IPO is March 6, 2024.