Highways Infrastructure Trust Rights Issue will open for subscription from 09 October 2023. the company aims for an issue size of ₹514.17 Crores through this rights Issue.
About the company
Highways Infrastructure Trust is an Indian infrastructure investment trust, that invests in road infrastructure assets, it is sponsored by Galaxy Investments II Pte. Ltd. The Sponsor is affiliated with funds, vehicles, and/or entities managed and/or advised by affiliates of KKR. As of date, the Sponsor is a 100% subsidiary of Galaxy Investments Pte. Ltd., which is majority-owned and controlled by KKR Asia Pacific Infrastructure Holdings Pte. Ltd. Highways Trust’s portfolio consists of six Highways SPVs having an aggregate of 451.98 km (1,710 lane km), which comprise both, National Highways and State Highways, and are located in the states of Telangana, Gujarat, Madhya Pradesh, Meghalaya, Rajasthan, and Tamil Nadu
Objectives of the Issue
- Acquisition of 100% of the issued, subscribed, and paid-up equity share capital of the Target SPV.
- Repayment of the outstanding debt of the Target SPV.
- General purposes.
Highways Infrastructure Trust Rights Issue Timetable
| Last Date to buy shares | 28 September 2023 |
| Record Date | 29 September 2023 |
| Credit of Rights Entitlements | 06 October 2023 |
| Bid/Offer Opens On | 09 October 2023 |
| Renunciation of Rights Entitlements | 09 October 2023 |
| Bid/Offer Closes On | 12 October 2023 |
| Deemed Date of Allotment | 16 October 2023 |
| Credit Date | 17 October 2023 |
| Listing Date | 18 October 2023 |
Highways Infrastructure Trust Rights Issue Details
| Issue Open | October 9, 2023 – October 12, 2023 |
| Security Name | Highways Infrastructure Trust |
| Issue Size (Shares) | 65,952,380 |
| Issue Size (Amount) | ₹514.17 Crores |
| Issue Price | ₹77.96 per share |
| Face Value | ₹10 per share |
| Listing At | NSE |
| Terms of Payment | The full amount of ₹ 77.96 per Unit shall be payable on Application |
| Entitlement | 10 Rights Equity Share(s) for every 63 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,331.65 | 2,739.42 |
| Revenue | 643.11 | |
| Profit After Tax | 34.20 |
Highways Infrastructure Trust Rights Issue Documents
Rights Issue Lead Manager(s)
- Axis Capital Limited
Highways Infrastructure Trust Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ajit.patankar@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Highways Infrastructure Trust Contact Information
Highways Infrastructure Trust
2nd Floor, Piramal Tower,
Peninsula Corporate Park,
Lower Parel, Mumbai – 400 013
Phone: +91 7506333447
Email: compliance.highwaysinvit@highwayconcessions.co
Website: https://highwayinfrastructure.in/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
