Bharat Highways InvIT IPO: An Overview and Corporate Insight
Bharat Highways Infrastructure Investment was founded with the purpose of acquiring, overseeing, and investing in a portfolio of Indian infrastructure assets. Under the SEBI InvIT Regulations, the Trust is permitted to conduct the operations of an infrastructure investment trust.
The company’s portfolio comprises of seven highways in Uttar Pradesh, Gujarat, Andhra Pradesh, Maharashtra, and Punjab that are all run on a HAM basis. These roads are owned and managed by the Project SPVs, which are presently completely owned by GRIL, and are operated and maintained in accordance with concession rights granted by the NHAI. Additionally, GRIL and InvIT have a ROFO agreement in which GRIL grants InvIT the right of first refusal over certain additional assets that GRIL owns and develops.
Grey Market Premium Analysis and IPO Timelines – Bharat Highways InvIT IPO
Not started yet.
Pricing Details and Lot Size – Bharat Highways InvIT IPO
The price band for Bharat Highways InvIT IPO is ₹98 to ₹100 per share.
Book-Running Lead Managers and Registrar – Bharat Highways InvIT IPO
ICICI Securities Limited, Axis Bank Limited, HDFC Bank Limited, and IIFL Securities Limited are the book-running lead manager, while Kfin Technologies Limited is the registrar.
Offer for Sale and IPO Size Breakdown – Bharat Highways InvIT IPO
The book-built IPO for Bharat Highways InvIT is valued at Rs 2,500.00 crores. This is a completely new 25 crore share offering.
IPO Timelines at a Glance – Bharat Highways InvIT IPO
| Event | Date |
| IPO Opening Date | February 28, 2024 |
| IPO Closing Date | March 01, 2024 |
| IPO Allotment Date | March 04, 2024 |
| Initiation of Refunds | March 05, 2024 |
| Credit of Shares to Demat | March 05, 2024 |
| IPO Listing Date | March 06, 2024 |
Utilisation of Fresh Issuance and Technological Advancements – Bharat Highways InvIT IPO
- The InvIT will use the Net Proceeds for the following objectives:
- Lending to Project SPVs for repayment or prepayment of their individual existing loans, in full or in part (including any accumulated interest and prepayment penalty).
- General purposes.
Conclusion
Currently operating on seven SPVs, BH-InvIT s are in charge of HAM-based SPVs.
It is intended for knowledgeable investors with longer tenor investments; • The units are priced below their current net asset values. Investors with spare cash and/or knowledge may park their money for medium- to long-term gains.
The Sponsor satisfies the qualifying requirements under the SEBI InvIT Regulations by guaranteeing a solid track record in infrastructure development through both itself and its Associate, NMHPL. Its first portfolio assets are seven road assets in the states of Gujarat, Andhra Pradesh, Maharashtra, Uttar Pradesh, and Punjab that are all operated on a HAM basis.
Frequently Asked Questions (FAQ) – Bharat Highways InvIT IPO
What does Bharat Highways InvIT specialise in?
Acquiring, managing, and investing in a portfolio of Indian infrastructure assets is the responsibility of Bharat Highways Infrastructure Investment. The Trust is authorised to carry out infrastructure investment trust operations in accordance with SEBI InvIT Regulations. Seven HAM-operated highways in Uttar Pradesh, Gujarat, Andhra Pradesh, Maharashtra, and Punjab are included in the company’s portfolio.
What is the primary purpose of Bharat Highways InvIT’s IPO?
The InvIT will use the Net Proceeds for the following objectives:
Lending to Project SPVs for repayment or prepayment of their individual existing loans, in full or in part (including any accumulated interest and prepayment penalty) and general purposes.
Who are the lead managers for Bharat Highways InvIT’s IPO?
ICICI Securities Limited, Axis Bank Limited, HDFC Bank Limited, and IIFL Securities Limited are book-running lead managers for the offer.
How is the IPO structured in terms of new issuance and offer for sale (OFS)?
The book-built IPO for Bharat Highways InvIT is valued at Rs 2,500.00 crores. This is a completely new 25 crore share offering.
What is the lot size and minimum investment for retail investors in the Bharat Highways InvIT IPO?
Bharat Highways InvIT IPO lot size is 150 Shares, and the minimum amount required is ₹15,000.
What is the price band for the Bharat Highways InvIT IPO?
The price band for Bharat Highways InvIT IPO is ₹98 to ₹100 per share.
How has the Grey Market Premium (GMP) trend for Bharat Highways InvIT IPO?
The GMP for Bharat Highways InvIT IPO has not started yet.
When does the IPO open and close for subscription?
Bharat Highways InvIT IPO will open for subscription on February 27, 2024 and close on February 29, 2024.
When is the allotment date for the Bharat Highways InvITLimited IPO?
The allotment date is set for March 04, 2024.
When is Bharat Highways InvIT expected to be listed on the stock exchanges?
The anticipated listing date for Bharat Highways InvIT IPO is March 06, 2024 on the BSE and NSE mainboards.
