Bharat Highways Invit's Rs 25 bn IPO launches on Feb 28
ROADS & HIGHWAYS

Bharat Highways Invit's Rs 25 bn IPO launches on Feb 28

The opening date for subscription to the Bharat Highways InvIT IPO is set for February 28, with the closing date on March 1. The company aims to raise Rs 25 billion, marking the highest fundraising in 2024 so far. The book-running lead managers for the issue include ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities.

The infra-investment trust had submitted draft papers for the IPO in December of the previous year and obtained approval earlier this year. The net proceeds from the IPO will be utilised by the company to extend loans to the Project SPVs (special purpose vehicles) for the repayment of outstanding loans, which include any accrued interest and prepayment penalty. The remaining funds will be allocated for general corporate purposes. As of February 1, 2024, the Project SPVs had an outstanding external borrowing of Rs 35.68 billion.

Prior to the IPO, GR Infraprojects engaged in a share purchase agreement (SPA) with Bharat Highways InvIT. This agreement involved the complete divestment of its investment in the equity shares of seven wholly-owned subsidiary companies. The names of these subsidiaries are GR Phagwara Expressway, Porbandar Dwarka Expressway, Varanasi Sangam Expressway, GR Akkalkot Solapur Highway, GR Sangli Solapur Highway, GR Gundugolanu Devarapalli Highway, and GR Dwarka Devariya Highway.

Bharat Highways InvIT operates as an infrastructure investment trust with the purpose of acquiring, managing, and investing in a portfolio of infrastructure assets in India. It conducts its activities as per the SEBI InvIT Regulations.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The opening date for subscription to the Bharat Highways InvIT IPO is set for February 28, with the closing date on March 1. The company aims to raise Rs 25 billion, marking the highest fundraising in 2024 so far. The book-running lead managers for the issue include ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities. The infra-investment trust had submitted draft papers for the IPO in December of the previous year and obtained approval earlier this year. The net proceeds from the IPO will be utilised by the company to extend loans to the Project SPVs (special purpose vehicles) for the repayment of outstanding loans, which include any accrued interest and prepayment penalty. The remaining funds will be allocated for general corporate purposes. As of February 1, 2024, the Project SPVs had an outstanding external borrowing of Rs 35.68 billion. Prior to the IPO, GR Infraprojects engaged in a share purchase agreement (SPA) with Bharat Highways InvIT. This agreement involved the complete divestment of its investment in the equity shares of seven wholly-owned subsidiary companies. The names of these subsidiaries are GR Phagwara Expressway, Porbandar Dwarka Expressway, Varanasi Sangam Expressway, GR Akkalkot Solapur Highway, GR Sangli Solapur Highway, GR Gundugolanu Devarapalli Highway, and GR Dwarka Devariya Highway. Bharat Highways InvIT operates as an infrastructure investment trust with the purpose of acquiring, managing, and investing in a portfolio of infrastructure assets in India. It conducts its activities as per the SEBI InvIT Regulations.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000