Tuesday, March 12, 2024

Bharat Highways InvIT debuts on the stock exchanges

Units of Bharat Highways InvIT Limited debuted on the exchange.

The Unit listed Rs 101 per share on BSE and Rs 101.10 per unit on NSE, at a premium of 1% and 1.10% respectively. The company's unit price closed at Rs 103.03 per unit on the BSE, an 3.03% premium, and at Rs 103.10 per unit on the NSE, an 3.10% premium.

As per NSE, the total quantity traded stood at 153.97 lakh shares, on BSE the total Quantity stood at 4.87 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 162.95 crore. 

Mr. Amit Singh – CEO of GR Highways Investment Managers said "We extend our heartfelt gratitude to all our esteemed investors for their unwavering support and confidence as we embark on this exciting journey of listing our units on the exchange. Your commitment fuels our drive towards greater success and we look forward to delivering exceptional value as we grow together." 

The Market Capitalization of the Company at today’s closing price stood at Rs. 4,563.60 Crore as per BSE and Rs. 4,566.70 Crore as per NSE.

Bharat Highways InvIT (the “InvIT”) is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust, as permissible under the SEBI InvIT Regulations. Its initial portfolio assets consist of seven road assets, all operating on a HAM basis, in the states of Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. These roads are operated and maintained under concession rights granted by the NHAI and are owned and operated by the Project SPVs, which are currently wholly owned by G R Infraprojects Limited (GRIL) (an Associate of the Investment Manager).

The Initial Public Offering of Bharat Highways InvIT was subscribed 8.01 times on the final day of bidding. Other Investors Portion was subscribed 6.93 times and Institutional Investors Portion was subscribed 8.92 times. 

ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, and IIFL Securities Limited are the Book-running Lead Managers to the Issue and KFin Technologies Limited is the Registrar of the Offer. The Units are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.

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