Bharat Highways InvIT IPO subscribed 1.03 times on day 2; check GMP, bidding status, other details
Bharat Highways InvIT IPO: The initial public offering (IPO) of Bharat Highways InvIT was fully subscribed on the second day of bidding, driven by stable demand from investors. Bharat Highways InvIT IPO hit the Indian primary market and opened for subscription on Wednesday, February 28, and will remain open till Friday, March 1, 2024. Bharat Highways Infrastructure Investment is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India.
The Trust is authorized to carry on the activities of an infrastructure investment trust under the SEBI InvIT Regulations. Let us check Bharat Highways InvIT IPO subscription status, GMP and other key details: The issue received bids of 10,57,27,500 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. Overall, the issue was subscribed 1.03 times.
Other Investors portion was subscribed 2.24 times and institutional investors portion was subscribed 0.02 times. Bharat Highways InvIT IPO has reserved not more than 75 per cent of the offer size of the shares in the public issue for qualified institutional buyers (QIB), and not less than 25 per cent of the net issue for non institutional investors (NII). Bharat Highways InvIT IPO is a book built issue of ₹2,500 crore.
The issue is entirely a fresh issue of 25 crore shares. Bharat Highways InvIT IPO price band has been set in the range of ₹98 to ₹100 per equity share. The lot size is 150 equity shares and in multiples of 150 equity shares thereafter.
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