Highway Infrastructure Filed DRHP with SEBI for Public Issue

Highway Infrastructure Limited submits DRHP with SEBI and will be coming up with its public issue in the upcoming time; the public issue will be offering a 100% book-built offer. This upcoming IPO is offering a fresh issue worth up to Rs 105 crore of equity shares and an offer for sale of up to 31 lakh equity shares. The total aggregate size of a public issue in rupees and the number of equity shares have not yet been disclosed by the company. The face value mentioned by the company is Rs 5 per each. This new IPO issue is being made through the book-building process with a reservation of less than 75% of the new offer reserved for Qualified Institutional Investors, not more than 15% reserved for NII and not more than 10% reserved for Retail Individuals. The opening and closing dates of this IPO have not yet been disclosed, and the price band at which you can bid for this IPO will announced soon by the company.

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About Highway Infrastructure Limited

Highway Infrastructure Limited, incorporated on February 10, 2006, is a public company based in Indore, Madhya Pradesh. It was initially a joint stock company that had been established as a partnership firm in 1995 but has gradually grown within the construction industry with highway, street, and bridge constructions as well as building residential spaces. Highway Infrastructure is a nongovernmental organization, and it works with an authorized share capital of Rs. 13.50 crore. Highway Infrastructure Limited is an employer of 51 to 200 staff and specializes in providing quality infrastructure solutions based on long work experience on many significant projects undertaken across the country. Its mission focuses on sustainability and innovation in its construction practices, keeping abreast of new industry benchmarks and community requirements.

Highway Infrastructure IPO Objectives

The company plans to utilize the net proceeds from the fresh issue to fund the company's working capital requirements and general corporate purposes.

Financials of the Company

The company reflected considerable improvements for the year ended March 31, 2024, compared with the year ended March 2023. Assets had increased 29.4%. The assets climbed to Rs 202.63 crore from Rs 156.59 crore for March 2023. Revenue increased 26% from Rs 455.13 crore in March 2023 to Rs 573.45 crore in March 2024. Profit after tax, the significant increase, was made up by an increase of 55.1% from Rs 13.80 crore in March 2023 to Rs 21.41 crore in March 2024. These results indicate strong growth across all financial parameters when compared to the previous year.

Lead manager(s), Registrar of IPO & Promoter(s) of the Company

The IPO is managed by Pantomath Capital Advisors Private Limited, which is the book-running lead manager of this public issue. The company has appointed Bigshare Services Private Limited as the registrar for this public issue. Arun Kumar Jain, Anoop Agrawal and Siddharth Jain are the identifiable promoters (s) of the company.

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