Bharat Highways InvIT is offering to sell it's shares to the public, aiming to raise up to Rs 2,500 crore. The share price is set between Rs 98 and Rs 100 each. Bidders, excluding Anchor Investors, can bid for a minimum of 150 units, and in multiples of 150 units thereafter, with a minimum bid size of Rs 14,700. Bidding opens on February 28, 2024, and closes on March 1, 2024. The shares will be listed on BSE and NSE stock exchanges.
The InvIT owns seven road assets in different Indian states, totaling about 497.292 kilometers. The funds raised will be used for road projects and general expenses. With good credit ratings, the InvIT is considered a reliable investment.
Sponsored by Aadharshila Infratech Private Limited and managed by GR Highways Investment Manager Private Limited, the InvIT has ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, and IIFL Securities Limited overseeing the IPO. KFin Technologies Limited will handle paperwork, and IDBI Trusteeship Services Limited will be the trustee.
Investors can join this IPO to support India's road infrastructure development.