Bharat Highways InvIT IPO fully subscribed on Day 2

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The Initial Public Offering of Bharat Highways InvIT was fully subscribed on the second day of bidding.


The issue received bids of 10,57,27,500 units against the offered 10,30,12,800 units, at a price band of ₹98-100, according to the data available on the stock exchanges. Overall, the Issue was subscribed 1.03 times.


Other Investors Portion was subscribed 2.24 times and Institutional Investors Portion was subscribed 0.02 times. The issue kicked off for subscription on Wednesday, February 28, 2024 and will close on Friday, March 01, 2024.


A day prior to the opening of the issue, Bharat Highways InvIT had raised Rs 825.97 crores from anchor investors. Institutions who participated in the anchor were ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, Quant Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Axis Mutual Fund, Aditya Birla Mutual Fund, UTI Mutual Fund, Max Life Insurance, Baroda BNP Mutual Fund, Reliance General Insurance and DSP Mutual Fund amongst others.


ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited and IIFL Securities Limited are the Book-running Lead Managers to the Issue and KFin Technologies Limited is the Registrar of the Offer. The Units are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.


Company Information


Bharat Highways InvIT (the “InvIT”) an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust, as permissible under the SEBI InvIT Regulations. Its initial portfolio assets consist of seven road assets, all operating on HAM basis, in the states of Punjab, Gujarat, Andhra Pradesh, Maharashtra and Uttar Pradesh. These roads are operated and maintained pursuant to concession rights granted by the NHAI and are owned and operated by the Project SPVs, which are currently wholly owned by G R Infraprojects Limited (GRIL) (an Associate of the Investment Manager).


Reference Table (BSE + NSE Cumulative)

  
BSE + NSE Cumulative 
  
No. of Units 
Offered/Reserved 
No of 
Units Bid 
For 
No. of 
Times of 
Total 
Meant 
for the 
Catego
ry 
Institutional Investors 
56188800 
1005300 
0.02 
Other Investors 
46824000 
1047222
00 
2.24 
Total 
103012800 
1057275
00 
1.03 

 

BSE Demand Link: https://www.bseindia.com/markets/publicIssues/BSEDemandSchedule_invit.aspx?Scripcode=6469

NSE Demand Link:

https://www.nseindia.com/market-data/issue-nformation?symbol=BHINVIT&series=IV&type=Active

 

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