Bharat Highways’ IPO to open on Feb 28

New Delhi: Bharat Highways InvIT, an infrastructure investment trust, on Thursday said it will launch its Rs2,500 crore Initial Public Offering (IPO) on February 28. The InvIT’s maiden public issue will conclude on March 1 and the price band has been set at Rs98-100 per unit for the issue, Bharat Highways InvIT said in a statement.

Proceeds from the issue will be utilised to provide loans to the Project SPVs (special purpose vehicles) for repayment of their outstanding loans. Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust under Sebi’s InvIT rule. 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 km of constructed and operational roads.