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 InvIT IPO – Details
| IPO Opening Date | 28 February 2024 |
| IPO Closing Date | 01 March 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 25,00,00,000 Shares Worth ₹2500.00 Crore Fresh Issue: 25,00,00,000 Shares Worth ₹2500.00 Crore |
| IPO Price | ₹98 – ₹100 |
| Market Lot | 150 Shares |
| Min Order | 150 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 25% |
Bharat Highways InvIT IPO – Date Schedule
| IPO Open Date | 28 February 2024 |
| IPO Close Date | 01 March 2024 |
| Basis of Allotment Date | 06 March 2024 |
| Initiation of Refund | 07 March 2024 |
| Credit of Shares to Demat Account | 07 March 2024 |
| IPO Listing Date | 12 March 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 01 March 2024 |
Bharat Highways InvIT IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
| Retail (Max) | 13 | 1,950 | ₹1,95,000 |
| S-HNI (Min) | 14 | 2,100 | ₹2,10,000 |
| S-HNI (Max) | 66 | 9,900 | ₹9,90,000 |
| B-HNI (Min) | 67 | 10,050 | ₹10,05,000 |
Competitive Strengths
- Sizeable portfolio of stable revenue generating assets with no construction risk and long-term predictable cash flows;
- Geographically diversified road asset portfolio and revenue base;
- Consistent track record in operating and maintaining projects in the roads sector in India;
- Attractive industry sector with strong underlying fundamentals and favourable government policies;
- Growth opportunities and rights to expand portfolio of assets; and
- Skilled and experienced management team with industry experience with a focus on corporate governance.
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2021 | 2170.39 | 1936.07 | 149.44 |
| 31 March 2022 | 1600.18 | 1515.86 | 62.86 |
| 31 March 2023 | 1537.47 | 816.48 | 527.04 |
| 30 September 2023 | 388.54 | 252.96 | 101.35 |
Object Of The Issue
- Providing loans to the Project SPVs for repayment/ pre-payment, in part or in full, of their respective outstanding loans (including any accrued interest and prepayment penalty); and
- General purposes.
Bharat Highways InvIT IPO Peer Comparison
| S. No. | Company Name |
| 1 | IRB InvIT Fund |
Bharat Highways InvIT IPO Prospectus
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.
Company Contact Information
| 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/ |
Bharat Highways InvIT IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: bharathighways.invit@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Bharat Highways InvIT IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Axis Bank Limited 3. HDFC Bank Limited 4. IIFL Securities Ltd |
Bharat Highways InvIT IPO FAQs
| What is Bharat Highways InvIT IPO? Bharat Highways InvIT IPO is a main-board IPO. The issue is priced at ₹98 to ₹100 per equity share. The IPO is to be listed on BSE & NSE. |
| When Bharat Highways InvIT IPO will open? The IPO is to open on 28 February 2024 for QIB and NII. |
| What is Bharat Highways InvIT IPO Investors Portion? The investors’ portion for QIB – 75% and NII – 25%. |
| How to Apply the Bharat Highways InvIT IPO? You can apply Bharat Highways InvIT IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Bharat Highways InvIT IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Bharat Highways InvIT”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Bharat Highways InvIT IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Bharat Highways InvIT“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Bharat Highways InvIT IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Bharat Highways InvIT”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Bharat Highways InvIT IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Bharat Highways InvIT”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Bharat Highways InvIT IPO Size? Bharat Highways InvIT IPO size is ₹2500.00 Crore. |
| What is Bharat Highways InvIT IPO Price Band? Bharat Highways InvIT IPO Price Band is ₹98 to ₹100. |
| What is Bharat Highways InvIT IPO Minimum and Maximum Lot Size? The minimum bid is 150 Shares with ₹15,000 amount while the maximum bid is 1,950 Shares with ₹1,95,000. |
| What is the Bharat Highways InvIT IPO Allotment Date? Bharat Highways InvIT IPO allotment date is 06 March 2024. |
| What is the Bharat Highways InvIT IPO Listing Date? Bharat Highways InvIT IPO listing date is 12 March 2024. The IPO is to list on BSE and NSE. |
