Bharat Highways Invit makes muted debut; shares of Birla AMC down 4%

Units of Bharat Highways Infrastructure Investment Trust (InvIT) made a mild debut on Tuesday, closing 3 per cent higher on the exchanges against the issue price of Rs 100.

On the NSE, units of Bharat Highways InvIT began the trade at Rs 101.10, with a premium of 1.1 per cent. It finally ended at Rs 103.10, up by 3.08 per cent.

It got listed at Rs 101 per unit, a premium of 1 per cent over the issue price on the BSE. During the day, it hit a high of Rs 104 per unit and later closed 3.05 per cent higher at Rs 103.05 per unit.

At the close of the session, the company's market valuation stood at Rs 4,566.70 crore on the NSE.
 

In terms of volume, 1.54 crore units were traded on the NSE, while 4.87 lakh units were traded on the BSE, during the day.

The 30-share BSE Sensex climbed 165.32 points or 0.22 per cent at 73,667.96, while NSE Nifty ended almost flat at 22,335.70, inching up 3.05 points.

On March 1, the Initial Public Offer (IPO) of Bharat Highways InvIT received 8 times subscription on the last day of offer.

The IPO, aggregating up to Rs 2,500 crore, had a price range of Rs 98-100 per unit.

Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India.

Its initial portfolio consists of seven road assets, all operating on HAM (Hybrid Annuity Model) basis, in Punjab, Gujarat, Andhra Pradesh, Maharashtra and Uttar Pradesh, consisting of about 497.292 kilometres of constructed and operational roads.