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HILINFRA IPO

Highway Infrastructure Limited

IPO Doc

Start Date05-08-2025

Application Timing10am-5pm

Price Range₹65 - ₹70

Min Qty211

Min. Investment₹13715

Listing Date12-08-2025

Close Date07-08-2025

About Highway Infrastructure Limited

Highway Infrastructure Ltd., established in 1995, is a diversified infrastructure development firm engaged in tollway operations, EPC (Engineering, Procurement & Construction) projects, and real estate development. The company has successfully completed 24 toll projects, is operating 7 tollway projects across 11 states and a Union Territory, and has completed 63 EPC projects with 20 more underway. Notably, HIL is one of the few companies leveraging ANPR (Automatic Number Plate Recognition) and RFID-based ETC systems on tollways like the Delhi–Meerut Expressway. It also manages housing and commercial projects under its real estate division, though this remains its smallest segment. As of August 2024, the company employs 398 professionals.

Why To Invest in Highway Infrastructure Limited

Proven Track Record in Infrastructure : Highway Infrastructure Ltd. has nearly three decades of experience in toll operations, EPC projects, and real estate development, showcasing consistent project execution and delivery.
Diversified Revenue Streams : The company earns from multiple verticals toll collection, EPC contracts, and real estate providing financial stability through diversification.
Resilient Profitability Despite Revenue Dip : n FY25, the company reported a 5% increase in PAT even as revenue declined by 13%, reflecting operational efficiency and financial control.
Strong Financial Indicators : With a Return on Equity (ROE) of 19.03%, Debt-to-Equity ratio of 0.61, and a market cap of Rs. 502 Cr, the company demonstrates solid financial fundamentals.
Expansion-Focused IPO Objective : Rs.65 Cr from the IPO proceeds are earmarked for working capital, indicating plans for future growth and capacity enhancement.

Financial Table

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	231.56	202.63	156.59
Total Income	504.48	576.58	456.83
Profit After Tax	22.40	21.41	13.80
EBITDA	31.32	38.44	27.69
Net Worth	117.72	100.19	74.81
Reserves and Surplus	83.90	83.49	64.44
Total Borrowing	71.82	69.62	63.36

Strengths And Risks

Established Market Presence: With 29 years of operational history, the company is a well-established player in the infrastructure and tolling sector.

Technology-Driven Tolling Systems: Use of ANPR and RFID-based ETC systems enhances operational efficiency and modernizes toll collection.

Healthy Financial Ratios: ROE of 19.03%, PAT Margin of 4.44%, and EBITDA Margin of 6.32% reflect strong financial performance

Pan-India Project Execution: Ongoing projects across multiple regions provide consistent revenue visibility and diversified geographic exposure.

Promoter Commitment: Promoters hold a pre-issue stake of 94.95%, indicating long-term trust and alignment with the company’s vision.

Revenue Decline in FY25: A 13% YoY drop in revenue suggests potential challenges in project acquisition, execution, or toll collection efficiency.

Volatility in Real Estate Segment: The real estate division remains the smallest and least predictable revenue contributor.

Valuation Concerns: Post-issue P/E of 22.41x may appear relatively high, raising questions on immediate valuation comfort.

Regulatory and Government Dependency: Significant reliance on government contracts and regulatory approvals may affect operational continuity and earnings.

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Company

Astha Credit & Securities Pvt Ltd NSE, BSE & MCX SEBI Reg No:

INZ000187932

Membership ID:

NSE - 12227 BSE-6844 MCX - 40000 NSDL-IN303420 CDSL-94500

CIN:

U65929MP2003PTC016241

SEBI Depository Participant Reg No:

IN-DP-611-2021

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SEBI RA Registration:

INH000013332

AMFI Registration:

ARN-35911

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Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020
Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge
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All investors are requested to take note that 6 KYC attributes i.e. Name, PAN, Address, Mobile Number, Email id and Income Range have been made mandatory. Investors availing custodian services will be additionally required to update the custodian details.
The last date to update KYC is on or before March 31, 2022.
Thereafter non-compliant trading accounts will be blocked for trading by the Exchange.
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The investors are hereby requested to comply with the regulatory guidelines issued by Exchanges and Depositories from time to time with regard to KYC compliance and related requirements.
We do proprietary trading

Client Bank Account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

*Investors are requested to note that Stock broker Astha Credit and Securities Private Limited is permitted to receive/pay money from/to investor through designated bank accounts only named as client bank accounts. Stock broker Astha Credit and Securities Private Limited is also required to disclose these client bank accounts to Stock Exchange. Hence, you are requested to use following client bank accounts only for the purpose of dealings in your trading account with us. The details of these client bank accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker.

1. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in the investor's account. 2. KYC is a one-time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary.

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Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors. We do Pro trading.

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HILINFRA IPO

About Highway Infrastructure Limited

Why To Invest in Highway Infrastructure Limited