Bookbuilding InvIT | ₹2,500 Cr | Listed at BSE, NSE | Wed, Feb 28, 2024 - Fri, Mar 1, 2024
Bharat Highways InvIT InvIT is a book build issue of ₹2,500.00 crores. The issue is entirely a fresh issue of 25.00 crore shares of ₹2,500.00 crore.
Bharat Highways InvIT InvIT bidding started from Feb 28, 2024 and ended on Mar 1, 2024. The allotment for Bharat Highways InvIT InvIT was finalized on Mar 6, 2024. The shares got listed on BSE, NSE on Mar 12, 2024.
Bharat Highways InvIT InvIT price band is set at ₹100 per share. The lot size for an application is 150. The minimum amount of investment required by an retail is ₹15,000 (150 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (10,050 shares), amounting to ₹10,05,000.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Bharat Highways InvIT InvIT RHP for detailed Information.
IPO Open
Wed, Feb 28, 2024
IPO Close
Fri, Mar 1, 2024
Final Issue Price
₹100.00 per share
Market Cap (Pre-IPO)
To be declared
| IPO Date | 28 Feb to 1 Mar, 2024 |
| Listed on | Tue, Mar 12, 2024 |
| Price Band | ₹98.00 to ₹100.00 |
| Final Issue Price | ₹100.00 per share |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding InvIT |
| Listing At | BSE, NSE |
| Total Issue Size | 24,99,99,900 shares (agg. up to ₹2,500 Cr) |
| Fresh Issue | 24,99,99,900 shares (agg. up to ₹2,500 Cr) |
| Share Holding Pre Issue | 19,29,38,705 shares |
| Share Holding Post Issue | 44,29,38,605 shares |
| BSE Script Code / NSE Symbol | 544137 / BHINVIT |
| ISIN | INE0NHL23019 |
Bharat Highways InvIT InvIT offers total 24,99,99,900 shares. Out of which 13,76,62,350 (55.06%) allocated to QIB, 5,50,65,000 (22.03%) allocated to QIB (Ex- Anchor), 4,58,87,550 (18.36%) allocated to NII - allocated to RII and 8,25,97,350 (33.04%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 13,76,62,350 (55.06%) | NA |
| − Anchor Investor Shares Offered | 8,25,97,350 (33.04%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 5,50,65,000 (22.03%) | NA |
| NII (HNI) Shares Offered | 4,58,87,550 (18.36%) | NA |
| Retail Shares Offered | - | NA |
| Strategic Investor Shares Offered | 6,64,50,000 (26.58%) | |
| Total Shares Offered | 24,99,99,900 (100.00%) |
Investors can bid for a minimum of 150 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1,950 | ₹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 |
Bharat Highways InvIT InvIT raises ₹825.97 crore from anchor investors. Bharat Highways InvIT InvIT Anchor bid date is February 27, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Feb 27, 2024 |
| Shares Offered | 8,25,97,350 |
| Anchor Portion (₹ Cr.) | 825.97 |
| Anchor lock-in period end date | Fri, Apr 5, 2024 |
Bharat Highways Infrastructure Investment is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. The Trust is authorized to carry on the activities of an infrastructure investment trust under the SEBI InvIT Regulations.
The Company's portfolio consists of seven roads, all of which are operated on a HAM basis in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. These roads are operated and maintained based on concession rights granted by the NHAI and are owned and operated by the Project SPVs, which are currently wholly owned by GRIL.
InvIT has also entered into a ROFO agreement with GRIL under which GRIL has granted InvIT a right of first refusal over certain other assets owned and being developed by GRIL.
The Trust has been assigned a provisional rating of CRISIL AAA/Stable (Reaffirmed) from Crisil Ratings Limited, a provisional rating of CARE AAA, Stable from CARE Ratings Limite and a provisional rating of IND AAA/Stable from India Ratings and Research.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 5,916.80 | 6,056.28 | 5,536.40 | 4,943.95 |
| Total Income | 388.54 | 1,537.47 | 1,600.18 | 2,170.39 |
| Profit After Tax | 101.35 | 527.05 | 62.87 | 149.45 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | 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) | |
| 2 | General purposes |
The Bharat Highways InvIT is subscribed 6.74 times on March 1, 2024 6:21:00 PM (Day 3). The public issue subscribed [.] times in the retail category, 6.59 times in the QIB category, and [.] times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 6.59 | 5,61,88,800 | 37,04,20,050 |
| Others | 6.93 | 4,68,24,000 | 32,43,53,550 |
| Total | 6.74 | 10,30,12,800 | 69,47,73,600 |
Total Application : 2,17,709
Note: Bharat Highways InvIT IPO has no retail portion. Only the NII and QIB portion is available. We are working on the changes to be made in the Bharat Highways InvIT IPO lot size section.
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹100.00 | ₹100.00 |
| Open | ₹101.00 | ₹101.10 |
| Low | ₹101.00 | ₹101.10 |
| High | ₹104.00 | ₹103.55 |
| Last Trade | ₹103.05 | ₹103.05 |
Bharat Highways InvIT InvIT is a main-board InvIT of 24,99,99,900 equity shares of the face value of ₹[.] aggregating up to ₹2,500 Crores. The issue is priced at ₹100.00 per share. The minimum order quantity is 150.
The InvIT opens on Wed, Feb 28, 2024, and closes on Fri, Mar 1, 2024.
Kfin Technologies Ltd. is the registrar for the InvIT. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bharat Highways InvIT InvIT using UPI as a payment gateway. Zerodha customers can apply in Bharat Highways InvIT InvIT by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bharat Highways InvIT InvIT through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bharat Highways InvIT InvIT opens on Wed, Feb 28, 2024 and closes on Fri, Mar 1, 2024.
Bharat Highways InvIT InvIT lot size is 150, and the minimum amount required for application is ₹15,000.
You can apply in Bharat Highways InvIT InvIT online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bharat Highways InvIT InvIT will be done on Wednesday, March 6, 2024, and the allotted shares will be credited to your demat account by Thu, Mar 7, 2024. Check the Bharat Highways InvIT InvIT allotment status.
The Bharat Highways InvIT InvIT listing date is on Tue, Mar 12, 2024.
