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Bharat Highways InvIT 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 bidding started from February 28, 2024 and ended on March 1, 2024. The allotment for Bharat Highways InvIT was finalized on Wednesday, March 6, 2024. The shares got listed on BSE, NSE on March 12, 2024.
Bharat Highways InvIT 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, while Kfin Technologies Limited is the registrar for the issue.
Refer to Bharat Highways InvIT RHP for detailed information.
| IPO Date | February 28, 2024 to March 1, 2024 |
| Listing Date | March 12, 2024 |
| 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 |
| Share holding pre issue | 249,999,900 |
| Share holding post issue | 442,938,605 |
Bharat Highways InvIT offers 185,610,150 shares. 56,188,800 (30.27%) to QIB and 82,597,350 (44.50%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 82,597,350 (44.50%) | NA |
| QIB Shares Offered | 56,188,800 (30.27%) | NA | Other Shares Offered | 46,824,000 (25.23%) | NA |
| Total Shares Offered | 185,610,150 (100%) |
Bharat Highways InvIT raises Rs 825.97 crore from anchor investors. Bharat Highways InvIT Anchor bid date is February 27, 2024. Bharat Highways InvIT Anchor Investors list
| Bid Date | February 27, 2024 |
| Shares Offered | 82,597,350 |
| Anchor Portion Size (In Cr.) | 825.97 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 4, 2024 |
Bharat Highways InvIT 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 | Wednesday, March 6, 2024 |
| Initiation of Refunds | Thursday, March 7, 2024 |
| Credit of Shares to Demat | Thursday, March 7, 2024 |
| Listing Date | Tuesday, March 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 1, 2024 |
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 | |||
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'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 | ||||
[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...
The Bharat Highways InvIT is subscribed 6.74 times on March 1, 2024 6:21:00 PM. The public issue subscribed times in the retail category, 6.59 times in the QIB category, and times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 6.59 |
| Others | 6.93 |
| Total | 6.74 |
Total Application : 217,709 (217,709.00 times)
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.
| Listing Date | March 12, 2024 |
| BSE Script Code | 544137 |
| NSE Symbol | BHINVIT |
| ISIN | INE0NHL23019 |
| Final Issue Price | ₹100 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹100.00 |
| ₹101.00 |
| ₹101.00 |
| ₹104.00 |
| ₹103.05 |
| NSE |
|---|
| ₹100.00 |
| ₹101.10 |
| ₹101.10 |
| ₹103.55 |
| ₹103.05 |
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/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: bharathighways.invit@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Bharat Highways InvIT is a main-board InvIT of 250,000,000 equity shares of the face value of ₹ aggregating up to ₹2,500.00 Crores. The issue is priced at ₹98 to ₹100 per share. The minimum order quantity is 150 Shares.
The InvIT opens on February 28, 2024, and closes on March 1, 2024.
Kfin Technologies Limited is the registrar for the InvIT. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bharat Highways InvIT using UPI as a payment gateway. Zerodha customers can apply in Bharat Highways InvIT by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bharat Highways InvIT through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bharat Highways InvIT opens on February 28, 2024 and closes on March 1, 2024.
Bharat Highways InvIT lot size is 150 Shares, and the minimum amount required is ₹15,000.
You can apply in Bharat Highways InvIT online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Bharat Highways InvIT will be done on Wednesday, March 6, 2024, and the allotted shares will be credited to your demat account by Thursday, March 7, 2024. Check the Bharat Highways InvIT allotment status.
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