Shares (Units) of Bharat Highways Infrastructure Investment Trust (InvIT) made their debut on Dalal Street, opening at a mild premium of 1.1% on the NSE and 1% on the BSE. The listing at Rs 101.10 over the issue price of Rs 100 per unit marked a flat start for Bharat Highways InvIT. Despite the subdued debut, the InvIT had a robust subscription during its IPO, raising a total of Rs 2,500 crore through a fresh share sale.
Listing Dynamics and Grey Market Sentiment
Bharat Highways InvIT’s debut was closely watched as it started trading at Rs 101.10 on the NSE and Rs 101 on the BSE. The units had shown no premium in the grey market ahead of the listing, indicating initial disappointment for investors. However, during the subscription period, the InvIT witnessed a strong premium of Rs 90 in the grey market.
IPO Details and Subscription Statistics
The Bharat Highways InvIT IPO was open for subscription from February 28 to March 1, with the issue price set in the range of Rs 98-100 per share. The lot size was 150 units, and the primary offering involved a fresh share sale of up to 25,00,00,000 units. The overall subscription was 6.75 times, with QIBs subscribing 6.6 times and NIIs subscribing 6.93 times during the three-day bidding process.
About Bharat Highways Infrastructure Investment Trust
Bharat Highways Infrastructure Investment Trust is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. It operates in compliance with the SEBI InvIT Regulations, engaging in the activities authorized for an infrastructure investment trust.
Market Participants and Registrar
ICICI Securities, HDFC Bank, Axis Bank, and IIFL Securities served as the book running lead managers for the Bharat Highways InvIT IPO. Kfin Technologies took on the role of the registrar for the issue.
