If you’re looking to invest in India’s booming infrastructure sector, the Highway Infrastructure Ltd. IPO could be a promising opportunity this August 2025. The company’s mix of proven operational expertise, strong order book, and expansion ambitions make this IPO stand out among recent transport and EPC sector listings. Let’s break down everything investors need to know—dates, price, company highlights, risks, and how you can apply.
Key IPO Details
- Issue Open: August 5, 2025
- Issue Close: August 7, 2025
- Listing Date: August 12, 2025 (BSE, NSE)
- Price Band: ₹65–₹70 per share
- Face Value: ₹5 per share
- Lot Size: 211 shares (₹14,770 minimum application)
- Total Issue Size: ₹130 crore (₹97.52 crore fresh issue + ₹32.48 crore OFS)
- Lead Manager: Pantomath Capital Advisors Pvt Ltd
- Registrar: Bigshare Services Pvt Ltd
- Order Book (May 2025): ₹666.31 crore
- Objects of Issue: Funding working capital for project execution and growth plans.
Company Overview
Highway Infrastructure Ltd. (HIL) is an Indore-based infrastructure company, operating since 1995 (earlier known as Highway Enterprises). It specializes in these core segments:
- Tollway Collection: The main revenue contributor (over 77%), with 27 projects and leading use of Advanced Number Plate Recognition (ANPR) technology—especially visible at high-traffic expressways like Delhi-Meerut. The company is also an early adopter of RFID-powered electronic toll collection, making tolling faster and contactless.
- EPC Infrastructure Projects: HIL has completed 66 EPC (Engineering, Procurement, Construction) projects and is executing 24 more, mainly in roads, bridges, and highways.
- Real Estate Development: Develops both residential and commercial spaces, including large housing colonies and gated communities in Indore. Projects like Karuna Sagar and New York City (Morod, Indore) showcase its civil execution skills.
HIL operates across 11 Indian states and 1 Union Territory, serving both public and private clients.
Financial Performance
| Metric | FY2025 |
|---|---|
| Revenue | ₹504.48 crore |
| Net Profit | ₹22.4 crore |
| ROE | 19.03% |
| ROCE | 16.56% |
| Debt/Equity | 0.61 |
| EBITDA Margin | 6.32% |
The company’s profits and revenues have grown consistently, backed by a diversified portfolio and efficient project execution. HIL’s healthy margins and moderate debt indicate prudent financial management.
Competitive Strengths
- Tech-Driven Operations: Early adoption of ANPR and RFID ensures smoother, more efficient toll collection and operations—a strong differentiator in India’s infrastructure landscape.
- Strong Order Book: Nearly ₹666 crore order book and presence in multiple states ensure stable future revenue.
- Experienced Promoters: Decades of experience in complex transport and civil infrastructure projects.
- Balanced Business Model: Operating in tolls, EPC, and real estate hedges risks and broadens growth avenues.
Risks and Considerations
- Working Capital Intensive: Infrastructure projects can face payment delays from government clients and require significant upfront capital.
- Margin Sensitivity: Margins are tight; heavy competition, project execution risks, and regulatory delays could impact profitability.
- Regulatory and Market Risks: Changes in government policies or funding, plus interest rate swings, can affect the business.
Should You Apply?
The Highway Infrastructure Ltd. IPO offers investors a slice of India’s expansion in highways and transport infrastructure, backed by an operator with a strong track record and modern execution methods. For investors seeking medium- to long-term exposure to the booming infra sector, HIL is an interesting contender, especially at a time when government capex and private investments in roads are rising.
However, infrastructure stocks generally require patience, as gains can be tied to both project execution and macroeconomic conditions. Assess your investment horizon and risk appetite before applying.
Also Read Top Upcoming IPOs to Watch in India – July & August 2025