Highway Infrastructure Ltd (HIL) is set to debut on the Indian stock market today, August 12, 2025, with experts signaling a strong debut. The IPO listing is scheduled for 10:00 IST and will be available for trading on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Subscription and Anchor Investors
The Highway Infrastructure IPO witnessed significant investor interest, being oversubscribed by 300.61 times on its final day. The portion allocated to non-institutional investors was subscribed 447.32 times, while Qualified Institutional Buyers (QIBs) subscribed an impressive 420.57 times. The retail individual investors (RIIs) segment saw a subscription rate of 155.58 times. On Monday, Highway Infrastructure Ltd secured ₹23.40 crore from anchor investors, including HDFC Bank and Abans Finance Pvt Ltd.
IPO Details
The IPO price range was set at ₹65 to ₹70 per share. The IPO comprises a fresh issue of 1.39 crore shares, totaling ₹97.52 crore, and an offer for sale of 46.4 lakh shares amounting to ₹32.48 crore.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for Highway Infrastructure IPO is ₹24 today. This indicates that Highway Infrastructure share price were trading at a premium of ₹24 in the grey market, according to market experts. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Highway Infrastructure share price was indicated at ₹94 apiece, which is 34.29% higher than the IPO price of ₹70. The current IPO GMP is showing an upward trend and is anticipated to have a robust listing.
Expert Opinions and Listing Predictions
Harshal Dasani, Business Head at INVasset PMS, noted that the IPO has a grey market premium of about ₹20, suggesting an implied listing range near ₹91, which translates into an estimated 28% upside. Dasani highlighted the company's involvement in road construction, bridges, and civil engineering projects, with FY24 revenue at ₹124.65 crore, up from ₹92.40 crore in FY23, and net profit at ₹8.34 crore, translating to an EPS of ₹4.43. He added that at the issue price, the P/E stands at ~16x, compared to the 18–22x range for sector peers, providing valuation comfort.
Company Overview
Established in 1995, Highway Infrastructure Ltd (HIL) operates in tollway collection, EPC (Engineering, Procurement, and Construction) projects, and the real estate sector. Based in Indore, the company specializes in the construction and maintenance of roads, highways, bridges, and residential developments. Pantomath Capital Advisors serves as the sole book-running lead manager for the IPO.
Trading Information
According to details on the BSE website, Highway Infrastructure share price will list in a special pre-open session on both the BSE and NSE during Tuesday's trades. Highway Infrastructure share price today will be available for trade from 10:00 IST. According to the circular notice from BSE, Trading Members of the Exchange are notified that starting Tuesday, August 12, 2025, the equity shares of Highway Infrastructure Limited will be listed and permitted for trading on the Exchange under the 'T' Group of Securities.
National Highways Infra Trust (NHIT)
It's worth noting the existence of the National Highways Infra Trust (NHIT), a registered InvIT under SEBI regulations. As of August 10, 2025, NHIT had a market cap of ₹25,566 Cr, a stock P/E ratio of 79.17, and a PB ratio of 1.04.
