Bharat Highways IPO Details
Issue Date
28 Feb - 1 Mar'24
Price Range
₹98 - ₹100
Lot Size
150
IPO Size
₹2500.00 Cr
Bharat Highways IPO Listing Details
Listing On
12 Mar'24
Issue Price
₹100
Listed Price
₹ 101
Retail Gain/Listing Gain
▲1.10%
Schedule of Bharat Highways IPO
Start date
28/02/2024
End date
01/03/2024
Allotment of bids
Refund Initiation
07/03/2024
Listing on exchange
12/03/2024
Bharat Highways InvIT IPO Issue Details
Kotak Securities
•03m 01s
Bharat Highways Company Background
Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust, as permissible under the SEBI InvIT Regulations.
The Sponsor is engaged in testing services in the field of transportation engineering and has expertise in NSV survey, FWD survey, pavement design of roads and airports, physical and chemical testing of soil, lime, cement, road roughness testing, concrete and bituminous mix design of road projects.
Bharat Highways Competitive Strengths
Sizeable portfolio of stable revenue-generating assets with no construction risk and long-term predictable cash flows
The company will own an initial portfolio consisting of seven InvIT Assets having an aggregate length of approximately 497.292 km located on national networks across five states in India. The projects are located on national highway networks that experience both commercial and passenger vehicular traffic. In addition, each Project SPV has entered into a long-term Concession Agreement with the NHAI, with each agreement having a residual operations period of between 11.07 and 13.51 years as of January 31, 2024, thereby will be providing long-term cash flows to the InvIT.
Geographically diversified road asset portfolio and revenue base
The InvIT Assets consist of seven operational HAM assets located across five states of India. The company believes that the geographic diversity of the InvIT Assets will play a major role in developing company experience and expertise, including its ability to evaluate, acquire, operate and maintain new projects.
Growth opportunities and rights to expand the portfolio of assets
Through the proposed ROFO Agreement, the company will have a right of first offer to acquire certain assets of GRIL. The company believes that this access to future road assets of GRIL or its existing or future subsidiaries will be an important source of the InvIT’s growth in the future.
Risk Factors
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The InvIT is a newly settled trust and does not have an established operating history.
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Consummation of the Formation Transactions pursuant to which the company will acquire the Project SPVs is subject to certain conditions.
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Failure to identify and acquire new infrastructure assets that generate comparable revenue, profits or cash flows may have an adverse effect on the business.
Key Strategies
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Institute and maintain capital management policies.
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Active asset management.
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Expand the portfolio of road assets.
Bharat Highways Key Financials
Here are the key financials for Bharat Highways Limited:
How to apply for IPO through ASBA
Kotak Securities
•04m 01s
How To Apply for Bharat Highways InvIT IPO?
Here are the steps to apply for Bharat Highways InvIT IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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