What you must know about Bharat Highways InvIT IPO?
by 5paisa Research Team
22 Feb 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 12-Mar-24
- IPO Price Range ₹98
- Listing Price ₹101
- Listing Change 1.0 %
- Last Traded Price ₹113.75
- Current Change 13.8 %
Bharat Highways IPO Details
- Open Date 28-Feb-24
- Close Date 01-Mar-24
- Lot Size 150
- IPO Size ₹ 2500 Cr
- IPO Price Range ₹ 98 to ₹ 100
- Min Investment ₹ 14,700
- Listing Exchange BSE, NSE
- Basis of Allotment 04-Mar-24
- Refunds 05-Mar-24
- Credit to Demat Account 05-Mar-24
- Listing Date 06-Mar-24
Bharat Highways InvIT IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 28-Feb-24 | 0.00 | - | - | 0.37 |
| 29-Feb-24 | 0.00 | - | - | 1.02 |
| 01-Mar-24 | 6.59 | - | - | 6.74 |
Bharat Highways IPO Synopsis
Bharat Highways InvIT Limited IPO is set to open from 28th February to 1st March 2024. The company is an infrastructure investment trust. The IPO includes a fresh issue of 250,000,000 shares worth ₹2500 cr. The share allotment date is 4th March 2024, and the IPO will be listed on 6th March 2024 on the stock exchanges. The price band is set at ₹98 to ₹100 and the lot size is 150 shares.
ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, and IIFL Securities Limited are the book-running lead managers for this IPO, while KFin Technologies Limited is the registrar.
Objectives of Bharat Highways IPO:
● To loan funds to the Project SPVs to repay or prepay full or partial outstanding borrowings.
● General corporate purposes.
Bharat Highways IPO Video:
About Bharat Highways InvIT
Bharat Highways InvIT is an infrastructure investment trust. It looks after managing and investing funds of investors in Indian infrastructure assets.
The sponsor of the trust has expertise in testing services in the transportation engineering sector. It undertakes activities such as NSV survey, FWD survey, pavement design of roads and airports, physical and chemical testing of soil, lime, cement, road roughness testing, concrete and bituminous mix design of road projects, etc.
This trust is rated AAA which means stable ratings. The trust invests in road projects based in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh on a HAM basis.
Peer Comparison
No listed peers
For More Information:
Webstory on Bharat Highways InvIT IPO
Bharat Highways InvIT Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 1509.48 | 1585.70 | 2153.96 |
| EBITDA | - | - | - |
| PAT | 527.04 | 62.86 | 149.44 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 6056.27 | 5536.39 | 4943.94 |
| Share Capital | 187.79 | 187.79 | 187.79 |
| Total Borrowings | 4939.02 | 4946.19 | 4416.61 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 472.62 | -398.09 | -943.91 |
| Net cash from / (used in) investing activities | -150.89 | -150.64 | -119.19 |
| Net cash flow from / (used in) financing activities | -471.84 | 625.78 | 1178.43 |
| Net increase (decrease) in cash and cash equivalents | -150.11 | 77.04 | 115.32 |
Bharat Highways IPO Key Points
-
Strengths
1. It has a sizable portfolio of stable revenue-generating assets with no construction risk and long-term predictable cash flows.
2. The assets are spread across seven operational HAM assets in five states of India.
3. Attractive industry sector with strong underlying fundamentals and favourable government policies.
4. There are growth opportunities and rights to expand the portfolio of assets.
5. The trust has a consistent track record in operating and maintaining projects in the roads sector in India.
6. It offers a hedge against adverse interest rate movements.
7. Skilled and experienced management team with industry experience.
-
Risks
1. The InvIT is a newly settled trust and does not have an established operating history.
2. It is dependent on receiving consistent annuity income from NHAI.
3. It is subject to increase in costs, including O&M costs.
4. There are risks associated with the potential acquisition of the ROFO Assets by the InvIT pursuant to the ROFO Agreement.
5. There are limitations and risks associated with debt financing.
Bharat Highways
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Bharat Highways IPO FAQs
When does the Bharat Highways InvIT IPO open and close?
Bharat Highways InvIT IPO opens from 28th February to 1st March 2024.
What is the size of the Bharat Highways InvIT IPO?
The size of Bharat Highways IPO is ₹2500 cr.
How to apply for the Bharat Highways InvIT IPO?
To apply for Bharat Highways IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Bharat Highways InvIT IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of Bharat Highways IPO?
The price band of Bharat Highways IPO is set at ₹98 to ₹100 per share.
What is the minimum lot size and investment required for the Bharat Highways InvIT IPO?
The minimum lot size of Bharat Highways IPO is 150 shares and the minimum investment required to apply for the IPO is ₹14,700.
What is the allotment date of the Bharat Highways InvIT IPO?
The share allotment date of Bharat Highways IPO is 4th March 2024.
What is the Bharat Highways InvIT IPO listing date?
The Bharat Highways IPO will be listed on 6th March 2024.
Who are the book runners for the Bharat Highways InvIT IPO?
ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, and IIFL Securities Limited are the book-running lead managers for Bharat Highways IPO.
What is the objective of the Bharat Highways IPO?
Bharat Highways InvIT will use proceeds for:
● To loan funds to the Project SPVs to repay or prepay full or partial outstanding borrowings.
● General corporate purposes.
Contact Details of Bharat Highways InvIT IPO
Contact Information
Bharat Highways Infrastructure Investment Trust
Novus Tower,
Second Floor, Plot No. 18, Sector 18,
Gurugram,- 122 015
Phone: +91 85888 55586
Email: cs@bharatinvit.com
Website: https://www.bharatinvit.com/
Bharat Highways InvIT IPO Register
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: bharathighways.invit@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Bharat Highways InvIT IPO Lead Manager
IIFL Securities Limited
HDFC Bank Limited
Axis Bank Limited
ICICI Securities Limited
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