Why Highway Infrastructure surged over 72% on listing day: Key competitive strengths from the RHP

The stock debuted at ₹115 a unit, a premium of 64.29% over the issue price of ₹70 per unit on NSE. It further jumped 5% to its upper circuit limit of ₹120.75. Its market capitalisation stands at ₹866.03 crore.

On the BSE, it was listed 67.14% higher at ₹117 a share. Later, it rose another 5% to ₹122.84, its upper limit.

The proceeds from the public issue will be used to the tune of ₹65 crore for working capital requirements. A portion will also be utilised for corporate general purposes.

Why Highway Infrastructure surged 72.5% on listing day: A look at competitive strengths (in points) from RHP

• The public offer of Highway Infrastructure secured a whopping 300.61 times subscription during the three-day bidding period led by institutional investors.
• The company has nearly three decades of experience in operating the tollway collection business and executing EPC projects across India.
• As of May 2025, its order book stood at ₹666.3 crore, comprising ₹59.53 crore in toll collection business and ₹606.77 crore in EPC business.
• The firm has a diversified revenue base, primarily in three sectors named EPC infra projects, toll-way collection and real estate business.
• On the financial front, the firm's net profit advanced 4.57% to ₹22.39 crore in the financial year 2024-25, as against ₹21.41 crore a year back. Its revenue fell 13.55% year-on-year (YoY) to ₹495.71 crore.

Highway Infrastructure share price lists above GMP estimates

Highway Infrastructure shares were listed at a 64.29% premium on the NSE. This is above the grey market premium estimates, which had suggested listing at a 34.29% premium.