Units of Bharat Highways InvIT made a decent debut at the bourses. Against IPO price of ₹100, the units were listed at ₹101 and rose further to hit a high of ₹104 before closing at ₹103.05 on the BSE. On the NSE too, the units closed at ₹103.05, up 2 per cent.
Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India and carry on the activities of an infrastructure investment trust under SEBI’s InvIT rule.
The initial public offering saw a robust response from investors, as the issue was subscribed 8.01 times. The ₹2,500-crore InvIT came out with a price band of ₹98-100 per unit.
Its initial portfolio consists of seven road assets, all operating on a HAM (Hybrid Annuity Model) basis, in Punjab, Gujarat, Andhra Pradesh, Maharashtra and Uttar Pradesh, consisting of about 497.292 km of constructed and operational roads.
Ahead of the issue opening, Bharat Highways InvIT on Tuesday…
