Bharat Highways InvIT Details | GMP, Date, Price, Review

Bharat Highways InvIT Details ( Bharat Highways Infrastructure Investment Trust InvIT IPO Review )

(28 Feb 2024 – 1 Mar 2024)

Bharat Highways Infrastructure Investment is a trust dedicated to investing in and managing a range of infrastructure assets in India. This trust operates under the SEBI InvIT Regulations, focusing on acquiring and developing infrastructure projects.

The portfolio of the company includes seven roads, all operating on a HAM basis in various states such as Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. These roads are managed through concession rights granted by the NHAI and are currently owned and operated by Project SPVs, wholly owned by GRIL.

Additionally, InvIT has a Right of First Refusal (ROFO) agreement with GRIL, giving it priority in acquiring certain assets owned and developed by GRIL.

The trust holds a provisional rating of CRISIL AAA/Stable (Reaffirmed) from Crisil Ratings Limited, CARE AAA, Stable from CARE Ratings Limited, and IND AAA/Stable from India Ratings and Research. These ratings reflect the trust’s strong standing in the market.

Bharat Highways InvIT Competitive Strength

• Sizeable portfolio of stable revenue generating assets with no construction risk and long-term predictable cash flows
• Geographically diversified road asset portfolio and revenue base
• Attractive industry sector with strong underlying fundamentals and favorable government policies
• Growth opportunities and rights to expand portfolio of assets
• Skilled and experienced management team with industry experience with a focus on corporate governance
• Consistent track record in operating and maintaining projects in the roads sector in India
• Hedge against adverse interest rate movements
• Investment Strategy and Risk and Capital Management Strategy
• Institute and maintain capital management policies
• Active asset management
• Expand the portfolio of road assets

Bharat Highways InvIT IPO Financials Performance ( Results )

Bharat Highways Infrastructure Investment Trust InvIT Financial Information (Restated)

All Amount in ₹ Crores

Period Ended	Total Assets	Total Revenue	PAT
31-Mar-21	4,943.95	2,170.39	149.45
31-Mar-22	5,536.40	1,600.18	62.87
31-Mar-23	6,056.28	1,537.47	527.05
30-Sep-23	5,916.80	388.54	101.35

Objective of Bharat Highways InvIT IPO Issue

• Providing loans to the Project SPVs for repayment/ pre-payment, in part or in full, of their respective outstanding loans (including any accrued interest and prepayment penalty); and
• General purposes.

Bharat Highways InvIT IPO Basic Details

IPO Date	Feb 28, 2024 to March 1, 2024
Listing Date	Wednesday, March 6, 2024
Face Value	₹10 per share
Price	₹98 to ₹100 per share
Lot Size	150 Shares
Issue Size	250,000,000 shares (aggregating up to ₹2,500.00 Cr)
Fresh Issue	250,000,000 shares (aggregating up to ₹2,500.00 Cr)
Issue Type	Book Built Issue InvIT
Listing At	NSE, BSE

Bharat Highways InvIT Reservation

QIB Shares Offered	75% of the Net Issue
NII (HNI) Shares Offered	25% of the Net Issue

Bharat Highways InvIT IPO Timetable

Bharat Highways InvIT will open on February 28, 2024 and close on March 1, 2024. You can join Bharat Highways InvIT at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.

Event	Date
Opening Date	28 February 2024 (Wednesday)
Closing Date	1 March 2024 (Friday)
Basis of Allotment	4 March 2024 (Monday)
Initiation of Refunds	5 March 2024 (Tuesday)
Credit of Shares to Demat	5 March 2024 (Tuesday)
Listing Date	6 March 2024 (Wednesday)
Deadline for UPI mandate confirmation	5 PM on 1 March 2024

Bharat Highways InvIT IPO Lot Size

For retail investors in Bharat Highways InvIT, 150 shares will come in 1 lot or the minimum investment will be ₹15,000. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹195,000.

Application	Lots	Shares	Amount
Retail (Min)	1	150	₹15,000
Retail (Max)	13	1,950	₹195,000
S-HNI (Min)	14	2,100	₹210,000
S-HNI (Max)	66	9,900	₹990,000
B-HNI (Min)	67	10,050	₹1,005,000

Bharat Highways InvIT Detail Video:

link

Bharat Highways InvIT IPO Subscription Status (Bidding Detail)

The Bharat Highways InvIT on March 1, 2024 at 7:00:00 PM was subscribed 6.74 times, with the other category being subscribed 6.93 times, the QIB category being subscribed 6.59 times.

Category	Subscription
QIB	6.59x
Other	6.93x
Total	6.74x

Bharat Highways InvIT Prospectus

Bharat Highways InvIT DRHP	Download
Bharat Highways InvIT RHP	Download
Bharat Highways InvIT Anchor Investors Details PDF	Download

Bharat Highways InvIT Rating

Our Rating

2.0/5.0

Bharat Highways InvIT Company Contact Information

Bharat Highways Infrastructure Investment Trust InvIT IPO

Registered Office: Novus Tower, Second Floor, Plot No. 18, Sector 18, Gurugram, Haryana 122 015, India
Tel: +91 85888 55586
Compliance Officer: Mohnish Dutta
E-mail: cs@bharatinvit.com
Website: www.bharatinvit.com

Bharat Highways InvIT Registrar

KFin Technologies Limited

Registered Office: Selenium, Tower B, Plot No 31 and 32, Financial District, Nanakramguda, Serilingampally, Hyderabad 500 032
Tel: +91 40 6716 2222/ 1800 309 4001
E-mail: bharathighways.invit@kfintech.com
Website: www.kfintech.com
Investor Grievance E-mail: einward.ris@kfintech.com
Contact Person: M Murali Krishna
SEBI Registration No.: INR000000221

Bharat Highways InvIT Lead Manager

ICICI Securities Limited

Registered Office: ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400025
Tel.: + 91 22 6807 7100
E-mail: bharat.invit@icicisecurities.com
Website: www.icicisecurities.com
Investor Grievance E-mail: customercare@icicisecurities.com
Contact Person: Sumit Singh / Rupesh Khant
SEBI Registration No: INM000011179

Axis Capital Limited

Registered Office: Axis House, 1st Floor, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai 400 025
Tel.: + 91 22 4325 2183
E-mail: bharat.invit@axiscap.in
Website: www.axiscapital.co.in
Investor Grievance E-mail: complaints@axiscap.in
Contact Person: Pavan Naik / Akash Aggarwal
SEBI Registration No: INM000012029

HDFC Bank Limited

Registered Office: Investment Banking Group Unit No. 701, 702 and 702-A 7th floor, Tower 2 and 3 One International Centre, Senapati Bapat Marg, Prabhadevi, Mumbai – 400013, Maharashtra, India
Tel: +91 22 3395 8233
E-mail: bharat.invit@hdfcbank.com
Website: www.hdfcbank.com
Investor Grievance E-mail: investor.redressal@hdfcbank.com
Contact Person: Dhruv Bhavsar/ Sanjay Chudasama
SEBI Registration No: INM00001125

IIFL Securities Limited

Registered Office: 24th Floor, One Lodha Place, Senapati Bapat Marg, Lower Parel (West), Mumbai 400 013, Maharashtra, India
Tel: +91 22 4646 4728
Email: bharat.invit@iiflcap.com
Website: www.iiflcap.com
Investor Grievance E-mail: ig.ib@iiflcap.com
Contact person: Pawan Kumar Jain/ Dhruv Bhagwat
SEBI Registration No: INM000010940

Bharat Highways InvIT FAQs