Bharat Highways InvIT IPO is a book built issue of Rs 2,500.00 crores. The issue is entirely a fresh issue of 25 crore shares.
Bharat Highways InvIT IPO opens for subscription on February 28, 2024 and closes on March 1, 2024. The allotment for the Bharat Highways InvIT IPO is expected to be finalized on Monday, March 4, 2024. Bharat Highways InvIT IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, March 6, 2024.
Bharat Highways InvIT IPO price band is set at ₹98 to ₹100 per share. The minimum lot size for an application is 150 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹210,000, and for bNII, it is 67 lots (10,050 shares), amounting to ₹1,005,000.
ICICI Securities Limited, Axis Bank Limited, Hdfc Bank Limited and Iifl Securities Ltd are the book running lead managers of the Bharat Highways InvIT IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Bharat Highways InvIT IPO RHP for detailed information.
Bharat Highways InvIT IPO Details
| IPO Date | February 28, 2024 to March 1, 2024 |
| Listing Date | [.] |
| Face Value | ₹ per share |
| Price Band | ₹98 to ₹100 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 250,000,000 shares (aggregating up to ₹2,500.00 Cr) |
| Fresh Issue | 250,000,000 shares (aggregating up to ₹2,500.00 Cr) |
| Issue Type | Book Built Issue InvIT |
| Listing At | BSE, NSE |
Bharat Highways InvIT IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 75% of the Offer Size( |
| NII (HNI) Shares Offered | Not less than 25% of the Net Issue |
Bharat Highways InvIT IPO Timeline (Tentative Schedule)
Bharat Highways InvIT IPO opens on February 28, 2024, and closes on March 1, 2024.
| IPO Open Date | Wednesday, February 28, 2024 |
| IPO Close Date | Friday, March 1, 2024 |
| Basis of Allotment | Monday, March 4, 2024 |
| Initiation of Refunds | Tuesday, March 5, 2024 |
| Credit of Shares to Demat | Tuesday, March 5, 2024 |
| Listing Date | Wednesday, March 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 1, 2024 |
Bharat Highways InvIT IPO Lot Size
Investors can bid for a minimum of 150 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1950 | ₹195,000 |
| S-HNI (Min) | 14 | 2,100 | ₹210,000 |
| S-HNI (Max) | 66 | 9,900 | ₹990,000 |
| B-HNI (Min) | 67 | 10,050 | ₹1,005,000 |
| Lot Size Calculator | |||
About Bharat Highways Infrastructure Investment Trust
Bharat Highways Infrastructure Investment is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. The Trust is authorized to carry on the activities of an infrastructure investment trust under the SEBI InvIT Regulations.
The Company’s portfolio consists of seven roads, all of which are operated on a HAM basis in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. These roads are operated and maintained based on concession rights granted by the NHAI and are owned and operated by the Project SPVs, which are currently wholly owned by GRIL.
InvIT has also entered into a ROFO agreement with GRIL under which GRIL has granted InvIT a right of first refusal over certain other assets owned and being developed by GRIL.
The Trust has been assigned a provisional rating of CRISIL AAA/Stable (Reaffirmed) from Crisil Ratings Limited, a provisional rating of CARE AAA, Stable from CARE Ratings Limite and a provisional rating of IND AAA/Stable from India Ratings and Research.
Bharat Highways Infrastructure Investment Trust Financial Information (Restated)
Bharat Highways Infrastructure Investment Trust’s revenue decreased by -3.92% and profit after tax (PAT) rose by 738.34% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,916.80 | 6,056.28 | 5,536.40 | 4,943.95 |
| Revenue | 388.54 | 1,537.47 | 1,600.18 | 2,170.39 |
| Profit After Tax | 101.35 | 527.05 | 62.87 | 149.45 |
| Amount in ₹ Crore | ||||
Objects of the Issue (Bharat Highways InvIT IPO Objectives)
The Net Proceeds will be utilized by the InvIT towards the following objects:
- Providing loans to the Project SPVs for repayment/ pre-payment, in part or in full, of their respective outstanding loans (including any accrued interest and prepayment penalty); and
- General purposes.
Bharat Highways InvIT IPO Review (May apply)
[Dilip Davda] The company is having seven highway projects under is current seven SPVs and it doing operations primarily on HAM projects. Since no track records of such InvITs are available and the treaty is not fully understood by the markets, well-informed/cash surplus investors may apply for the medium to long term rewards. Read detail review…
Note: Bharat Highways InvIT IPO has no retail portion. Only the NII and QIB portion is available. We are working on the changes to be made in the Bharat Highways InvIT IPO lot size section.
Bharat Highways Infrastructure Investment Trust Contact Details
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 Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: bharathighways.invit@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/