Highway Infrastructure Ltd made a strong debut on the stock exchanges on August 12, listing at a premium of over 67% to its IPO price. The Rs 130-crore mainboard public issue, which opened between August 5 and 7, received overwhelming interest from investors, getting subscribed 300.61 times. On the NSE, the stock listed at ₹115 per share, a 64.29% premium over its issue price of ₹70. On the BSE, shares debuted at ₹117, reflecting a 67.14% premium. The post-listing market capitalization stood at ₹839.13 crore.
Before the IPO, the company raised ₹23.40 crore from anchor investors like HDFC Bank and Abans Finance Pvt Ltd. The listing performance exceeded grey market expectations, which had indicated a likely 34% gain. Highway Infrastructure brings nearly 30 years of expertise in toll collection and EPC projects across states such as Madhya Pradesh, Gujarat, Maharashtra, Delhi, and others.
According to Narendra Solanki of Anand Rathi, as of May 31, 2025, the firm held an order book worth ₹666.3 crore, split between toll collection and EPC projects. At a FY25 P/E of 22.5x, Solanki sees HIL as a promising player in India’s infrastructure space, advising partial profit booking while holding some shares for long-term potential.
