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Bharat Highways IPO

Bharat Highways InvIT IPO

  • Status: Closed
  • RHP:
  • ₹ 14,700 / 150 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    12 Mar 2024

  • Listing Price

    ₹101.00

  • Listing Change

    1.00%

  • Last Traded Price

    ₹114.06

IPO Details

  • Open Date

    28 Feb 2024

  • Close Date

    01 Mar 2024

  • IPO Price Range

    ₹ 98 to ₹ 100

  • IPO Size

    ₹ 2500 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    06 Mar 2024

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IPO Timeline

Bharat Highways InvIT IPO Subscription Status

Last Updated: 15 March 2024 10:31 AM by 5Paisa

Bharat Highways InvIT Limited IPO is set to open from 28th February to 1st March 2024. The company is an infrastructure investment trust. The IPO includes a fresh issue of 250,000,000 shares worth ₹2500 cr. The share allotment date is 4th March 2024, and the IPO will be listed on 6th March 2024 on the stock exchanges. The price band is set at ₹98 to ₹100 and the lot size is 150 shares.   

ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, and IIFL Securities Limited are the book-running lead managers for this IPO, while KFin Technologies Limited is the registrar. 

Objectives of Bharat Highways IPO:

●    To loan funds to the Project SPVs to repay or prepay full or partial outstanding borrowings. 
●    General corporate purposes.
 

Bharat Highways IPO Video:

 

Bharat Highways InvIT is an infrastructure investment trust. It looks after managing and investing funds of investors in Indian infrastructure assets.

The sponsor of the trust has expertise in testing services in the transportation engineering sector. It undertakes activities such as NSV survey, FWD survey, pavement design of roads and airports, physical and chemical testing of soil, lime, cement, road roughness testing, concrete and bituminous mix design of road projects, etc.

This trust is rated AAA which means stable ratings. The trust invests in road projects based in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh on a HAM basis. 

Peer Comparison

No listed peers

For More Information:
Webstory on Bharat Highways InvIT IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 1509.48 1585.70 2153.96
EBITDA - - -
PAT 527.04 62.86 149.44
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 6056.27 5536.39 4943.94
Share Capital 187.79 187.79 187.79
Total Borrowings 4939.02 4946.19 4416.61
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 472.62 -398.09 -943.91
Net cash from / (used in) investing activities -150.89 -150.64 -119.19
Net cash flow from / (used in) financing activities -471.84 625.78 1178.43
Net increase (decrease) in cash and cash equivalents -150.11 77.04 115.32

Strengths

1.    It has a sizable portfolio of stable revenue-generating assets with no construction risk and long-term predictable cash flows.
2.    The assets are spread across seven operational HAM assets in five states of India. 
3.    Attractive industry sector with strong underlying fundamentals and favourable government policies.
4.    There are growth opportunities and rights to expand the portfolio of assets.
5.    The trust has a consistent track record in operating and maintaining projects in the roads sector in India.
6.    It offers a hedge against adverse interest rate movements.
7.    Skilled and experienced management team with industry experience.
 

Risks

1.    The InvIT is a newly settled trust and does not have an established operating history.
2.    It is dependent on receiving consistent annuity income from NHAI.
3.    It is subject to increase in costs, including O&M costs.
4.    There are risks associated with the potential acquisition of the ROFO Assets by the InvIT pursuant to the ROFO Agreement.
5.    There are limitations and risks associated with debt financing.
 

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FAQs

Bharat Highways InvIT IPO opens from 28th February to 1st March 2024.
 

The size of Bharat Highways IPO is ₹2500 cr. 
 

To apply for Bharat Highways IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Bharat Highways InvIT IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.
 

The price band of Bharat Highways IPO is set at ₹98 to ₹100 per share.

The minimum lot size of Bharat Highways IPO is 150 shares and the minimum investment required to apply for the IPO is ₹14,700.
 

The share allotment date of Bharat Highways IPO is 4th March 2024.
 

The Bharat Highways IPO will be listed on 6th March 2024.
 

ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, and IIFL Securities Limited are the book-running lead managers for Bharat Highways IPO.
 

Bharat Highways InvIT will use proceeds for:

●    To loan funds to the Project SPVs to repay or prepay full or partial outstanding borrowings. 
●    General corporate purposes.