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Analysts advised investors to subscribe to the issue as the Invit seeks to expand its asset base through strategic acquisitions. It may also benefit from the government's enhanced focus on infrastructure.
The IPO of Bharat Highways InvIT has opened for subscription to raise Rs 2,500 crore. The net proceeds will be used for loans to project SPVs and other corporate purposes. Analysts advise subscribing as the company plans to expand its asset base through acquisitions and benefit from government focus on infrastructure.
Analysts advised investors to subscribe to the issue as the Invit seeks to expand its asset base through strategic acquisitions. It may also benefit from the government's enhanced focus on infrastructure.
Bharat Highways Invit has priced the IPO in the range of Rs 98-100 per unit with the issue opening on February 28. The infra-investment trust is offering units worth Rs 2,500 crore through the IPO. About 75% of the issue will be available for allocation on a proportionate basis to institutional investors, and 25% will be available for non-institutional investors.
Bharat Highways had filed DRHP for the IPO in December 2023 and received approval for the same earlier this year. The issue price is yet to be determined. The company proposes to use the net proceeds to repay debt availed by the project SPVs and for general corporate purposes.