Infrastructure/Toll - Listed on 12 August 2025
Highway Infrastructure (Infrastructure/Toll) closed its IPO window in 2025 and listed on NSE and BSE on 12 August 2025 at an upper band issue price of Rs 70, opening at Rs 115 for a listing gain of +64.3% and closing day one at Rs 120.75 (+72.5% on closing basis). The IPO was subscribed 300.57x overall - QIB 420.57x, HNI/NII 447.29x, Retail 155.51x. The total issue size was Rs 130 Cr (Fresh Issue Rs 97.52 Cr, OFS Rs 32.48 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Infrastructure/Toll
Highway Infrastructure operates in the Infrastructure/Toll space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Highway Infrastructure issue was offered at an upper price of Rs 70 and raised approximately Rs 130 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 30 | +42.86% |
| Day 2 | Rs 40 | +57.14% |
| Day 3 | Rs 40 | +57.14% |
| Day 4 | Rs 40 | +57.14% |
| Day 5 | Rs 38 | +54.29% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Highway Infrastructure IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Highway Infrastructure IPO listed at +64.3% versus the upper issue price of Rs 70 on 12 August 2025.
Highway Infrastructure IPO was subscribed 300.57x overall. QIB portion was subscribed 420.57x, HNI / NII 447.29x and Retail 155.51x.
IPO GMP started at Rs 30 on Day 1 and moved to Rs 38 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.