Bharat Highways InvIT IPO Details, Date, Price, GMP 2024

Bharat Highways InvIT IPO will be open for subscription on February 28, 2024 check gmp, financials, date and more.

 

Bharat Highways InvIT IPO Details

 

IPO Dates 28 Feb – 1 Mar 2024
Issue Price INR 98 – 100 per share
Fresh issue 250,000,000 shares (INR 2,500 crore)
Offer For Sale NIL
Total IPO size 250,000,000 shares (INR 2,500 crore)
Minimum bid (lot size) 150 shares (INR 15,000)
Face Value  INR 10 per share
QIB Shares Offered 75%
NII (HNI) Shares Offered 25%
Listing On BSE, NSE

 

 

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Bharat Highways InvIT IPO – Date Schedule

 

IPO Open Date 28 February 2024
IPO Close Date 1 March 2024
Finalization of Basis of Allotment 4 March 2024
Refunds Initiation 5 March 2024
Transfer of shares to demat accounts 5 March 2024
Listing Date of IPO 6 March 2024

About Company 

 

Bharat Highways InvIT is an infrastructure investment trust established to acquire, oversee, and invest in a collection of infrastructure assets in India, aligning with the activities permitted under the SEBI InvIT Regulations.

The Sponsor specializes in testing services within the transportation engineering domain, exhibiting proficiency in NSV surveys, FWD surveys, pavement design for roads and airports, physical and chemical soil testing, lime and cement analysis, road roughness testing, as well as concrete and bituminous mix design for road projects.

The initial portfolio consists of seven road assets, all functioning under the Hybrid Annuity Model (HAM), located in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. As of January 31, 2024, the InvIT Assets comprise approximately 497.292 kilometers of constructed and operational roads across five states in India. These projects are owned, operated, and maintained by the Project SPVs (Special Purpose Vehicles).

 

Industry Overview 

 

The Government has introduced policy reforms which resulted in a cumulative FDI equity inflow of $32.08 billion in construction activities in infrastructure from Fiscal Year 2001 to six months ended September 30, 2023.

In the Fiscal Year 2020, the Government focused on enhancing expenditure in the infrastructure sector and has planned to invest more than ₹100 trillion in the infrastructure sector in the next five years as part of the National Infrastructure Pipeline (“NIP”) announced in December 2019 (Source: www.pib.gov.in).

The Government launched the NIP with a forward-looking approach and with a projected infrastructure investment of around ₹111 trillion during Fiscal Years 2020 – 2025. The NIP currently has 8,964 projects with a total investment of more than ₹108 trillion under different stages of implementation. Out of the total capital outlay under the NIP, 55% are under implementation, 16% are at a conceptual stage and 29% are under development stage.

Sectors such as commercial infrastructure, energy, social infrastructure and transport amount to 4.6%, 20.4%, 13.9% and 43.5% respectively out of the total capital outlay. (Source: Economic Survey 2022-2023, Ministry of Finance, Government of India) 

 

 

Bharat Highways InvIT IPO – Financial Performance

 

FY 2022 FY 2023 H1 FY 2024
Revenue 1,585.70 1,509.49 368.07
Expenses 1,515.86 816.49 252.97
Net income 62.87 527.05 101.35
Margin (%) 3.96 34.92 27.54

Figures in INR Crores

 

Competitive Strengths

 

  • Sizeable portfolio of stable revenue generating assets with no construction risk and long-term predictable cash flows.
  • Geographically diversified road asset portfolio and revenue base.
  • Attractive industry sector with strong underlying fundamentals and favorable government policies.
  • Growth opportunities and rights to expand portfolio of assets.
  • Skilled and experienced management team with industry experience with a focus on corporate governance.
  • Consistent track record in operating and maintaining projects in the roads sector in India.
  • Hedge against adverse interest rate movements. 

 

Bharat Highways InvIT IPO – Object Of The Issue

 

  • Providing loans to the Project SPVs for repayment/ pre-payment, in part or in full, of their respective outstanding loans (including any accrued interest and prepayment penalty); and
  • General purposes.

 

Bharat Highways InvIT IPO GMP Today

 

Date Day-wise IPO GMP Kostak Subject to Sauda
Coming soon

 

Bharat Highways InvIT IPO – Allotment Status

 

Bharat Highways InvIT IPO allotment status will be available on theKFin Tech website. Click on this link to get allotment status.

 

Bharat Highways InvIT IPO – Lots Size & Price

 

Application Lots Shares Amount ( Cut-Off)
Retail (Min) 1 150 15,000
Retail (Max) 13 1950 1,95,000
S-HNI (Min) 14 2,100 2,10,000
S-HNI (Max) 66 9,900 9,90,000
B-HNI (Min) 67 10,050 10,05,000

 

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Disclaimer-The content presented here is intended solely for analytical and educational purposes. If you consider investing, it is strongly advised to conduct your own thorough research. We do not endorse or recommend any specific stocks or initial public offerings (IPOs).

 

 

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