Highway Infrastructure Limited IPO

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Highway Infrastructure Ltd. is an infrastructure development and management company engaged in tollway collection, EPC (Engineering, Procurement, and Construction) Infra, and real estate businesses. The company provides a range of services including the operation and management of tollway collection systems, construction of infrastructure projects such as roads, bridges, and civil buildings, and real estate development.

Core Business Segments

1. Tollway Collection

The company operates tollways using advanced ANPR and RFID-based ETC systems for contactless toll payments. It runs toll collection systems across 11 states and 1 Union Territory in India, integrating FASTag and digital payments for improved efficiency.

2. EPC Infra
The company executes construction projects like roads, bridges, and buildings for both public and private sectors, managing the entire project lifecycle. It has completed 66 projects and currently manages 24 ongoing projects.

3. Real Estate
The smallest segment, focusing on commercial and residential properties. The company develops gated communities and housing projects.

Technological Edge

The company stands out as one of the few toll operators in India using ANPR technology on expressways, which enhances toll collection efficiency. It also integrates FASTag and digital payment systems, streamlining payment processes and reducing transaction times at toll booths for a seamless, contactless experience.

Market Position

– Order Book: As of May 31, 2025, the consolidated order book stood at ₹6,663.07 million, with significant contributions from both the tollway collection and EPC Infra businesses.

– Revenue & Profit Growth: Revenue from operations grew at a CAGR of 4.36% from ₹4,551.33 million in FY23 to ₹4,957.15 million in FY25. Profit increased from ₹138.00 million in FY23 to ₹223.98 million in FY25, demonstrating a CAGR of 27.40%.

Competitive Strengths

i) Execution Capabilities: With over 30 years of experience, the company has built a strong reputation in tollway collection and EPC Infra projects across multiple states.

ii) Technological Integration: The use of advanced ETC systems and ANPR technology positions the company as a leader in the tollway sector.

iii) Experienced Management: The company is led by a team with a rich background in infrastructure development, including managing government projects and executing large-scale infrastructure tasks.

iv) Diverse Revenue Streams: The company operates in three key sectors, ensuring diversified revenue sources and reduced dependence on any single sector.

Objects of the Highway Infrastructure Limited IPO:

The Net Proceeds from the Fresh Offer are proposed to be utilized towards the following objects: a. Funding Working Capital Requirements ( ₹65 crore) b. General Corporate Purposes.
DRHP of Highway Infrastructure Limited IPO
RHP of Highway Infrastructure Limited IPO

Highway Infrastructure Limited IPO Details:

Open Date: Aug 05 2025
Close Date: Aug 07 2025
Total Shares: 1,85,71,428
Face Value: ₹ 5 Per Equity Share
Issue Type: Book Building
Issue Size: 130 Cr.
Lot Size: 211 Shares
Issue Price: ₹ 65-70 Per Equity Share
Listing At: NSE,BSE

Promoters And Management:

1. Arun Kumar Jain, aged 56, is the Managing Director and Promoter of the Company. He holds a Diploma in Textile Technology and has over 31 years of experience in the infrastructure industry. He has served as the Chairman of the Builders Association of India, Indore Chapter, and is involved with CREDAI. He plays a key role in managing and expanding the business of the Company. 2. Anoop Agrawal, aged 47, is the Whole-time Director, CFO, and Promoter. He holds a higher secondary certificate and has 22 years of experience in the infrastructure sector. An entrepreneur since 2006, he handles financial matters, coordinates projects, and manages relations with government bodies. He has overseen all financial decisions of the Company since 2002. 3. Riddharth Jain, aged 24, is the Non-Executive Non-Independent Director and Promoter, joining in July 2024. He holds a Bachelor's degree in Architecture and a Master’s in Design from the University of Pennsylvania. With 3 years of experience, his role focuses on company strategies and advancements, bringing his architectural background to the Company's development.

Financials of Highway Infrastructure Limited IPO: 

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Highway Infrastructure Limited IPO:

  1. Pantomath Capital Advisors Private Limited

Registrar of Highway Infrastructure Limited IPO:

  1. Bigshare Services Private Limited

Discussion on Highway Infrastructure Limited IPO:

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