NEW DELHI: Initial public offering (IPO) of Bharat Highways Invit opens for subscription on February 28 and will close on March 1 as it aims to raise approximately Rs 2,500 crore through this public offer.
It is an infrastructure investment trust that has been established to acquire, manage, and invest in a portfolio of infrastructure assets in India.It operates under the Sebi InvIT regulations.
Bharat Highways has set a price band of Rs 98-100 per share for its IPO. Investors can bid for 150 shares in one lot and in multiples thereafter. 75% of the IPO is reserved for Institutional investors while the rest is for retail investors.
The net proceeds from the IPO will be utilized for repaying the debt availed by the project SPVs (special purpose vehicles) and for general corporate purposes.
For the financial year ended March 2023, the revenue from operations of the SPV Group company was Rs 1,537 crore, slightly lower than the previous year’s Rs 1,600 crore. However, the profit for FY23 surged to Rs 527 crore, a significant increase from the Rs 62.8 crore in FY22.
ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities are the lead managers for the IPO.
The share allotment for the IPO will be finalized on March 4, and the estimated listing date is March 6.
It is an infrastructure investment trust that has been established to acquire, manage, and invest in a portfolio of infrastructure assets in India.It operates under the Sebi InvIT regulations.
Bharat Highways has set a price band of Rs 98-100 per share for its IPO. Investors can bid for 150 shares in one lot and in multiples thereafter. 75% of the IPO is reserved for Institutional investors while the rest is for retail investors.
The net proceeds from the IPO will be utilized for repaying the debt availed by the project SPVs (special purpose vehicles) and for general corporate purposes.
For the financial year ended March 2023, the revenue from operations of the SPV Group company was Rs 1,537 crore, slightly lower than the previous year’s Rs 1,600 crore. However, the profit for FY23 surged to Rs 527 crore, a significant increase from the Rs 62.8 crore in FY22.
ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities are the lead managers for the IPO.
The share allotment for the IPO will be finalized on March 4, and the estimated listing date is March 6.