Bharat Highways InvIT will open for subscription from 28 February 2024. The company aims for an issue size of ₹2,500 Cr through this IPO.
Company Overview
| Full name | Bharat Highways InvIT |
| Sector | Others |
| Industry | Unspecified |
| Company Website | https://www.bharatinvit.com/ |
About Company
Bharat Highways InvIT is an infrastructure investment trust formed to acquire, manage, and invest in a portfolio of infrastructure assets in India, adhering to the activities permitted under the SEBI InvIT Regulations. The Sponsor specializes in testing services within the realm of transportation engineering, boasting expertise 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 comprises seven road assets, all operating under the Hybrid Annuity Model (HAM), situated in the states of Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. As of 31 January 2024, the InvIT Assets encompass approximately 497.292 kilometers of constructed and operational roads across five states in India. The Project SPVs (Special Purpose Vehicles) own, operate, and maintain these projects.
The Objectives 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 Timetable
| IPO Opening date | 28 February 2024 |
| IPO Closing | 01 March 2024 |
| Basis of Allotment | 04 March 2024 |
| Initiation Refund | 05 March 2024 |
| Credit to Demat Account | 05 March 2024 |
| Listing Date | 06 March 2024 |
Bharat Highways InvIT details
| Issue type | Book Built Issue InvIT |
| IPO issue size | ₹2,500 Cr – 250,000,000 shares |
| Fresh Issue | ₹2,500 Cr – 250,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹98 to ₹100 per share |
| Lot size | 150 Sahers |
| Non-Institutional Investor Allocation | 25% |
| Listing Exchange | BSE & NSE |
Bharat Highways InvIT Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1950 | ₹195,000 |
| S-HNI (Min) | 14 | 2,100 | ₹210,000 |
| S-HNI (Max) | 66 | 9,900 | ₹990,000 |
| B-HNI (Min) | 67 | 10,050 | ₹1,005,000 |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 2,153.97 | 1,585.70 | 1,509.49 | 368.07 |
| Expenses | 1,936.07 | 1,515.86 | 816.49 | 252.97 |
| Net income | 149.45 | 62.87 | 527.05 | 101.35 |
| Margin (%) | 6.94 | 3.96 | 34.92 | 27.54 |
Sponsor
- Aadharshila Infratech Private Limited
Lead Manager(s)
- ICICI Securities Limited
- Axis Bank Limited
- HDFC Bank Limited
- IIFL Securities Ltd
Bharat Highways InvIT Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222/ 1800 3094001
E-mail: bharathighways.invit@kfintech.com
Website: www.kfintech.com
Contact Details
BHARAT HIGHWAYS INVIT
Novus Tower, Second Floor, Plot No. 18,
Sector 18, Gurugram, Haryana 122 015, India
Phone: +91 85888 55586
Email: cs@bharatinvit.com
Website: www.bharatinvit.com
Allotment Status
Bharat Highways InvIT IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Bharat Highways InvIT is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
