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Highways Infrastructure Trust Rights Issue (Highways Infrastructure Trust Rights Issue 2023) Detail

October 9, 2023 - October 12, 2023
Highways Infrastructure Trust Logo

Highways Infrastructure Trust is an Indian infrastructure investment trust, which invests in road infrastructure assets, it is sponsored by Galaxy Investments II Pte. Ltd.

The Sponsor is affiliated with funds, vehicles, and/or entities managed and/or advised by affiliates of KKR. As of date, the Sponsor is a 100% subsidiary of Galaxy Investments Pte. Ltd., which is majority-owned and controlled by KKR Asia Pacific Infrastructure Holdings Pte. Ltd.

Highways Trust's portfolio consists of six Highways SPVs having an aggregate of 451.98 km (1,710 lane km), which comprise both, National Highways and State Highways, and are located in the states of Telangana, Gujarat, Madhya Pradesh, Meghalaya, Rajasthan, and Tamil Nadu:

  1. The DBCPL Project is a four-lane highway with an aggregate length of 140.79 kilometres, between Bhopal to Dewas on State Highway 18* in Madhya Pradesh, operated by DBCPL.
  2. the GEPL Project is a four-lane highway with an aggregate length of 87.10 kilometers, on the Godhra and the border between Madhya Pradesh and Gujarat on National Highway 59* in Gujarat, operated by GEPL.
  3. The JPEPL Project, a four-lane highway with an aggregate length of 71.54 kilometers, between the Jodhpur and Pali sections on National Highway 65* in Rajasthan, is operated by JPEPL.
  4. The NBL Project, a four-lane highway with an aggregate length of 30.89 kilometers, between the Kadtal and Armur sections on National Highway 7* in Telangana, is operated by NBL.
  5. The SEPL Project, a two-lane highway with an aggregate length of 48.77 kilometers, comprising the Shillong bypass connecting National Highway 40* with National Highway 44* in Meghalaya, is operated by SEPL.
  6. The UEPL Project, a four-lane highway with an aggregate length of 72.90 kilometers, between the Tindivanam and Ulundurpet sections on National Highway 45* in Tamil Nadu, is operated by UEPL.

The Projects are divided into two types on the basis of the implementation mode: (i) toll and (iii) annuity.

*Note: The State Highway and National Highway numbers and chainages are old Highway numbers and chainages, as per the concession agreements. The actual SH/NH numbers and chainages at the site may differ based on subsequent changes.

Highways Infrastructure Trust Rights Issue 2023 Detail

Issue Open October 9, 2023 - October 12, 2023
Security Name Highways Infrastructure Trust
Issue Size (Shares) 65,952,380
Issue Size (Amount) ₹514.17 Crores
Issue Price ₹77.96 per share
Face Value ₹10 per share
Listing At NSE
Terms of Payment

Full amount of ₹ 77.96 per Unit shall be payable on Application

Entitlement 10 Rights Equity Share(s) for every 63 fully paid-up Equity Shares held on Record Date

Highways Infrastructure Trust Rights Issue 2023 Issue Timetable

Last Date to buy sharesSeptember 28, 2023
Record Date September 29, 2023
Credit of Rights Entitlements October 6, 2023
Bid/Offer Opens On October 9, 2023
Renunciation of Rights Entitlements October 9, 2023
Bid/Offer Closes On October 12, 2023
Deemed Date of Allotment October 16, 2023
Credit Date October 17, 2023
Listing Date October 18, 2023

Company Financials

Highways Infrastructure Trust Financial Information (Restated Consolidated)

Period Ended31 Mar 202331 Mar 2022
Assets2,331.652,739.42
Revenue643.11
Profit After Tax34.20
Net Worth
Reserves and Surplus
Total Borrowing
Amount in ₹ Crore

Objects of the Issue:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Acquisition of 100% of the issued, subscribed, and paid-up equity share capital of the Target SPV.
  2. Repayment of the outstanding debt of the Target SPV.
  3. General purposes.

Highways Infrastructure Trust Rights Issue 2023 Subscription Status

Highways Infrastructure Trust Rights Issue 2023 got oversubscribed by 1.03 times by the end of the bidding period with total bid quantity received by NSE of 68,240,172 shares.

Highways Infrastructure Trust Rights Issue 2023 Documents

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Company Contact Information

Highways Infrastructure Trust
2nd Floor, Piramal Tower,
Peninsula Corporate Park,
Lower Parel, Mumbai - 400 013

Phone: +91 7506333447
Email: compliance.highwaysinvit@highwayconcessions.co
Website: https://highwayinfrastructure.in/

Highways Infrastructure Trust Rights Issue 2023 Registrar

  1. Link Intime India Private Ltd
    Phone: +91-22-4918 6270
    Email: ajit.patankar@linkintime.co.in
    Website: https://linkintime.co.in/initial_offer/public-issues.html

Highways Infrastructure Trust Rights Issue 2023 Lead Manager(s)

Highways Infrastructure Trust Rights Issue 2023 FAQs

The Highways Infrastructure Trust Rights Issue 2023 opens on October 9, 2023, and closes on October 12, 2023.

Highways Infrastructure Trust Rights Issue 2023 Schedule

Last Date for credit of Rights EntitlementsOctober 6, 2023
Last Date for renunciation of Rights EntitlementsOctober 9, 2023
Issue Opening DateOctober 9, 2023
Issue Closing DateOctober 12, 2023
Date of Allotment (on or about)October 16, 2023
Date of Credit (on or about)October 17, 2023
Date of Listing (on or about)October 18, 2023

Highways Infrastructure Trust Rights Issue 2023 price is set at ₹77.96 per share per equity share.

The eligible shareholders are being offered 10 Rights Equity Share(s) for every 63 fully paid-up Equity Shares held on Record Date (September 29, 2023).

The record date for the Highways Infrastructure Trust Rights Issue 2023 is September 29, 2023.

The issue size of Highways Infrastructure Trust Rights Issue 2023 is of 65,952,380 equity shares at ₹77.96 per share aggregating upto ₹514.17 Crores.

The Letter of Offer for Highways Infrastructure Trust Rights Issue 2023 can be download here.

You can apply for Highways Infrastructure Trust Rights Issue 2023 in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for Highways Infrastructure Trust Rights Issue 2023 using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the Highways Infrastructure Trust Rights Issue 2023 available on the list.
  4. Click the Apply button next to the Highways Infrastructure Trust Rights Issue 2023.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for Highways Infrastructure Trust Rights Issue 2023 using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select Highways Infrastructure Trust Rights Issue 2023 from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.

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