Shares of Bharat Highways InvIT were currently trading at Rs 103.23 at 10:24 IST on the NSE, representing a premium of 3.23% as compared with the issue price of Rs 100.
The scrip was listed at Rs 101.10, exhibiting a premium of 2.11% to the issue price.So far, the stock has hit a high of 103.55 and a low of 101.10. On the NSE, over 57.60 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Bharat Highways InvIT was subscribed 4.89 times. The issue opened for bidding on 28 February 2024 and it closed on 1 March 2024. The price band of the IPO was fixed at Rs 98-100.
The proceeds from the fresh issue will be utilised for 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 corporate purpose.
Bharat Highways InvIT is engaged in testing services in the field of transportation engineering and has expertise in NSV survey, FWD survey, pavement design of roads and airports, physical and chemical testing of soil, lime, cement, road roughness testing, concrete and bituminous mix design of road projects.
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