Highway Infrastructure Ltd debuted on BSE at ₹117 and on NSE at ₹115 against its issue price of ₹70, valuing the firm at ₹881.02 crore.
The ₹130-crore IPO was subscribed 300.61 times, with a price band of ₹65–70 per share.
The offer comprised a fresh issue of 1.39 crore shares worth ₹97.52 crore and an offer-for-sale of 46.4 lakh shares worth ₹32.48 crore.
Shares of Highway Infrastructure Ltd on Tuesday listed with a premium of over 67% against the issue price of ₹70.
The stock started trading at ₹117, up 67.14% from the issue price on the BSE.
At the NSE, it listed at ₹115, a jump of 64.28%.
The company's market valuation stood at ₹881.02 crore.
The initial public offer of Highway Infrastructure Ltd garnered a whopping 300.61 times subscription on the closing day of the share sale on Thursday last week.
The ₹130-crore IPO had a price band of ₹65-70 per share.
The initial public offer (IPO) was a mix of fresh issue of 1.39 crore shares aggregating to ₹97.52 crore and an offer-for-sale of 46.4 lakh shares amounting to ₹32.48 crore.
Incorporated in 1995, Highway Infrastructure Ltd (HIL) is engaged in tollway collection, EPC (Engineering, Procurement, and Construction) projects, and real estate development.
The Indore-based company specialises in the construction and maintenance of roads, highways, bridges, and residential projects.
