Highways Infrastructure Trust Rights Issue

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 shares28 September 2023
Record Date29 September 2023
Credit of Rights Entitlements06 October 2023
Bid/Offer Opens On09 October 2023
Renunciation of Rights Entitlements09 October 2023
Bid/Offer Closes On12 October 2023
Deemed Date of Allotment16 October 2023
Credit Date17 October 2023
Listing Date18 October 2023

Highways Infrastructure Trust Rights Issue Details

Issue OpenOctober 9, 2023 – October 12, 2023
Security NameHighways 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 AtNSE
Terms of PaymentThe full amount of ₹ 77.96 per Unit shall be payable on Application
Entitlement10 Rights Equity Share(s) for every 63 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended31 Mar 202331 Mar 2022
Profit After Tax34.20
(Amount in ₹ Crore)

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

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

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

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