Bharat Highways InvIT IPO subscribed 0.37 times on Day 1

The Initial Public Offering of Bharat Highways InvIT was subscribed 0.37 times on the first day of bidding.

The issue received bids of 3,83,46,450 units against the offered 10,30,12,800 units, at a price band of ₹98-100, according to the data available on the stock exchanges.

Other Investors Portion was subscribed 0.81 times and Institutional Investors Portion are still to see traction. The issue kicked off for subscription on Wednesday, February 28, 2024 and will close on Friday, March 01, 2024.

A day prior to the opening of the issue, Bharat Highways InvIT had raised Rs 825.97 crores from anchor investors. Institutions who participated in the anchor were ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, Quant Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Axis Mutual Fund, Aditya Birla Mutual Fund, UTI Mutual Fund, Max Life Insurance, Baroda BNP Mutual Fund, Reliance General Insurance and DSP Mutual Fund amongst others.

ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited and IIFL Securities Limited are the Book-running Lead Managers to the Issue and KFin Technologies Limited is the Registrar of the Offer. The Units are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.

Source : Equity Bulls

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BharatHighways InvIT Subscription IPO