The shares of Highway Infrastructure Limited (HIL) have made a strong debut on the stock market today. The shares opened at a premium of approximately 34% over the issue price of ₹70 per share, reflecting the bullish sentiment generated by its heavily oversubscribed initial public offering (IPO).
The IPO, which had a price band of ₹65-70 per share, saw an overwhelming subscription of over 300 times. This high demand from investors, particularly from the retail category, had indicated a potential for solid listing gains.
The company, which specializes in toll collection and infrastructure projects, is now officially trading on the BSE and NSE. This successful listing is seen as a positive sign for the infrastructure sector, which has been a key focus of the government. The proceeds from the IPO are expected to be used for working capital and other corporate purposes, which will support the company’s future growth.
