The Rs 130-crore IPO obtained an awesome response, with general subscription reaching 316.64 instances.
The retail portion was booked 164.48 instances, whereas the non-institutional investor (NII) class noticed bids at a rare 473.10 instances. The certified institutional consumers (QIB) phase was subscribed 432.71 instances.
The IPO, which opened on August 5 and closed on August 7, comprised a contemporary concern of 1.39 crore shares aggregating Rs 97.52 crore and a suggestion on the market of 0.46 crore shares value Rs 32.48 crore by the promoters.
Within the gray market, the corporate’s shares are commanding a wholesome premium of about 34% over the IPO worth, indicating robust listing-day expectations. If the pattern sustains, the inventory might record close to Rs 94 per share, rewarding traders with substantial itemizing good points.
Freeway Infrastructure operates throughout three enterprise segments: tollway assortment, EPC (Engineering, Procurement, and Development) initiatives, and actual property growth.The tollway assortment enterprise is the corporate’s main income driver, with operations spanning 11 states and one Union Territory.It’s among the many few operators in India to deploy Automated Quantity Plate Recognition (ANPR) expertise on the Delhi-Meerut Expressway, alongside RFID-based Digital Toll Assortment techniques. As of August 2024, the corporate had accomplished 24 tollway initiatives and was working seven extra.Its EPC portfolio contains roads, bridges, irrigation constructions, and constructing initiatives, with 63 initiatives accomplished and 20 ongoing as of August 2024. The corporate additionally undertakes selective actual property developments, primarily residential initiatives.
Financially, the corporate reported a income of Rs 504.48 crore in FY25, down 13% from FY24, however internet revenue rose 5% to Rs 22.40 crore.
IPO proceeds will likely be primarily used to fund working capital necessities of Rs 65 crore, with the steadiness earmarked for common company functions.
With robust investor demand, strong gray market sentiment, and a differentiated place within the toll and infrastructure area, all eyes will likely be on how Freeway Infrastructure performs when buying and selling begins.
(Disclaimer: Suggestions, solutions, views and opinions given by the consultants are their very own. These don’t symbolize the views of the Financial Instances)
