Bharat Highways InvIT IPO allotment status: Check application, latest GMP and listing date

Bharat Highways Infrastructure Investment Trust (InvIT) is likely to finalise the basis of allotment for its recent public issue on Wednesday, March 6. Bidders are likely to receive messages, alerts or emails regarding debit of funds or revocations of IPO mandate latest by Thursday, March 7. The infrastructure investment trust had received a muted response to its IPO.

Bharat Highways InvIT IPO was sold in the price band of Rs 98-100 per share. The issue ran from February 28 to March 1. The IPO raised a total of Rs 2,500 crore, which was entirely a fresh share sale of up to 25,00,00,000 units.

The Bharat Highway InvIT issue was subscribed a total 6.75 times. The quota reserved for qualified institutional bidders was subscribed 6.6 times while the portion reserved for retail investors was subscribed 6.93 times during the three-day bidding process.

The grey market premium (GMP) of Bharat Highway InvIT has remained muted. Last heard, the IPO was commanding a negligible premium of Rs nil-2 per share, suggesting no listing pop.

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.

Brokerage firms, which tracked the issue, were mostly positive as they cited Bharat Highways Infrastructure’s improved leverage position, attractive valuations, strong portfolio and future growth prospects. However, a absence of operating track record, debt concerns, inability to capture growth, and rising costs were seen as key risks.

ICICI Securities, HDFC Bank, Axis Bank and IIFL Securities are the book running lead managers of the Bharat Highways InvIT IPO, while Kfin Technologies is the registrar for the issue. Listing of units is likely to be done on Tuesday, March 12 on both BSE and NSE.

Investors can check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.