Bharat Highways Invit IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Bharat Hig.InvIT

CMP

107.03

+0.23 (0.22%)

  • DRHP
₹ 98 - ₹ 100

Price Band/ Share

₹ 2,499.99 Cr

Issue Size

₹ 15,000

Min Investment

1.03x

Times Subscribed

150

Lot size

Time Line

  • 28
    Feb 2024
    Open
  • 01
    Mar 2024
    Close
  • 06
    Mar 2024
    Finalisation of Basis of Allotment
  • 07
    Mar 2024
    Initiation of Refunds
  • 07
    Mar 2024
    Transfer of Shares to Demat Account
  • 12
    Mar 2024
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Institute and maintain capital management policies

  • Active asset management

  • Expand the portfolio of road assets

Products & Services

  • 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, as permissible under the SEBI.

Strengths

  • 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;

  • Consistent track record in operating and maintaining projects in the roads sector in India;

  • Attractive industry sector with strong underlying fundamentals and favourable government policies;

  • Growth opportunities and rights to expand portfolio of assets;

Risks

  • The InvIT is a newly settled trust and does not have an established operating history, which will make it difficult to accurately assess itd future growth prospects.

  • Consummation of the Formation Transactions pursuant to which it will acquire the Project SPVs is subject to certain conditions.

  • Its failure and inability to identify and acquire new infrastructure assets that generate comparable revenue, profits or cash flows may have an adverse effect on its business, financial condition, cash flows and results of operations and its ability to make distributions.

  • All of its revenue from it InvIT Assets is dependent on receiving consistent annuity income from NHAI.

  • If any of its InvIT Assets are terminated prematurely, its may not receive payments due to it which may result in a material adverse effect on its financial condition.

Financials

All values in Cr

Mar-2021 Mar-2022 Mar-2023 3-Yr trend
Revenue 2,170.09 (-29.80%) 1,600.18 (-26.30%) 1,535.55 (-4.00%)
Gross Profit 2,170.09 (-29.80%) 1,600.18 (-26.30%) 1,535.55 (-4.00%)
Net Income 2,170.09 (-29.80%) 1,600.18 (-26.30%) 1,535.55 (-4.00%)
Assets 2,170.09 (-29.80%) 1,600.18 (-26.30%) 1,535.55 (-4.00%)
Liabilities 2,170.09 (-29.80%) 1,600.18 (-26.30%) 1,535.55 (-4.00%)

Book Running Managers

  • Axis Capital Ltd
  • HDFC Bank Ltd
  • IIFL Securities Ltd
  • ICICI Securities Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

Novus Tower II Floor,
Plot No 18 Sector 18,
Gurugram - 122015
Phone : 91-85888 55586 Email : cs@bharatinvit.com www.bharatinvit.com

Offer Related Information

Bharat Highways InvIT (the "InvIT") is issuing up to 249,999,900* units (as defined below) for cash at a price of Rs. 100 per unit aggregatting Rs. 2499.99 crores (the "Issue"). *Subject to finalization of basis allotment

News

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