Stocks
Invest in Stocks
Invest in stocks, ETFs, IPOs with fast orders. Track returns on your stock holdings and view real-time P&L on your positions.
F&O
Highway Infrastructure IPO
Highway Infrastructure Ltd
₹13,715 /211 sharesMinimum Investment
Highway Infrastructure IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| BSE | ₹70.00 | ₹115.00 | ₹45.00 (64.29%) |
Highway Infrastructure IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 5 Aug ‘25 - 7 Aug ‘25 | ₹13,715 | 211 | ₹65 - ₹70 |
| Issue Size | IPO Doc |
|---|---|
| 130.00Cr | RHP PDF |
Subscription rate
As of 07 Aug'25, 05:00 PM
| Qualified Institutional Buyers | 420.57x |
| Non-Institutional Investor | 445.86x |
| Retail Individual Investor | 150.57x |
| Total | 297.63x |
About Highway Infrastructure
Founded in
2006
Managing director
Mr Arun Kumar Jain
Parent organisation
Highway Infrastructure Ltd
Highway Infrastructure Ltd IPO
https://www.youtube.com/watch?v=g2MpIJJyLlM
Strengths & Financials of Highway Infrastructure
Strengths
Risks
Highway Infrastructure claims to have nearly 30 years of experience in tollway collection and EPC infrastructure projects across multiple Indian states, including Madhya Pradesh, Gujarat, Punjab, Maharashtra, and Delhi. It is among the few operators that have managed tollway collection using automatic number plate recognition (ANPR) technology on the Delhi-Meerut Expressway. The company also claims to use electronic toll collection (ETC) systems with radio frequency identification (RFID) tags and digital payment platforms to improve operational efficiency.
As of August 31, 2024, the company had a consolidated order book of Rs 596.38 crore, split between tollway collection and EPC infrastructure projects. Between FY22 and FY24, Highway Infrastructure Limited’s revenue from operations grew at a compound annual growth rate (CAGR) of 27.09 percent, while PAT increased at a CAGR of 58.55 percent. The company also reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth at a CAGR of 48.88 percent during the same period.
The company operates across three segments: tollway collection, EPC infrastructure, and real estate development. The company further states that this diversified portfolio helps reduce reliance on any single business vertical and allows it to pursue varied growth opportunities. It also earns ancillary income from activities such as equipment leasing and the sale of surplus materials.
The company has reported a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 355.03 crore in FY22 to Rs 455.13 crore in FY23 and Rs 573.45 crore in FY24. PAT increased from Rs 8.52 crore in FY22 to Rs 13.8 crore in FY23 and Rs 21.41 crore in FY24.
A significant portion of the company’s revenue is derived from its tollway collection business. It accounted for Rs 478.35 crore (83.42 percent) of the company’s revenue in FY24, Rs 356.48 crore (78.32 percent) in FY23, and Rs 272.65 crore (76.80 percent) in FY22. These tollway contracts are primarily awarded by the National Highways Authority of India (NHAI). Any adverse changes in government priorities, delays or non-payments, budget cuts, or contract terminations could negatively impact the company’s revenue and financial results.
The top customer accounted for Rs 421.03 crore (73.42 percent) of the company’s revenue in FY24, Rs 355.61 crore (78.13 percent) in FY23, and Rs 272.65 crore (76.80 percent) in FY22. Any failure to retain this key customer, expand the customer base, or a loss of business from this client can adversely affect the company’s business and financial standing.
Highway Infrastructure Limited’s tollway collection and EPC infrastructure businesses are subject to seasonal fluctuations, particularly during the monsoon season. The company typically experiences a decline in toll collections in the second quarter of the fiscal year due to reduced traffic flow caused by heavy rainfall, flooding, and poor road conditions in certain regions. These weather-related disruptions may also delay EPC project execution and affect the company’s cash flows, revenues, and overall operational timelines.
The company, its subsidiary, and its group companies are involved in certain ongoing legal proceedings, including criminal and tax-related cases. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of FY24, the company had contingent liabilities amounting to Rs 77.64 crore. If any of these contingent liabilities materialise, it could adversely affect the company’s financial condition.
The company is heavily dependent on third-party suppliers for raw materials, services, and finished goods required for its tollway and EPC infrastructure projects. Any failure by key suppliers to deliver required materials on time, at expected prices, or in acceptable quality could disrupt operations and adversely affect the company’s financial performance.
As of August 31, 2024, the company had outstanding financial indebtedness amounting to Rs 115.72 crore. Any failure to service or repay these loans on time could harm the company’s operations and financial position.
Highway Infrastructure Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Highway Infrastructure IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹65 - 70 | ₹2 Lakh |
| High Networth Individual | ₹65 - 70 | ₹2 - 5 Lakh |
For Highway Infrastructure IPO, eligible investors can apply as Regular.