Units of Bharat Highways InvIT made a muted debut on the bourses on Tuesday with a premium of just 1 per cent, against the issue price of Rs 100.
The unit started the trade at Rs 101.10 on the NSE, up by 1.1 per cent over the issue price of Rs 100. In the intra-day trade it jumped 1.93 per cent to Rs 103.05 per unit on the exchange.
On the BSE, the units of Bharat Highways InvIT got listed at Rs 101 per unit, a premium of 1 per cent to the issue price.
In the mid-session trade, the company commanded a market capitalisation of Rs 4,564.93 crore on the NSE.
The 30-share BSE Sensex climbed 187.43 points to 73,690.07, while NSE Nifty gained 1.85 points to 22,334.50.
On March 1, the Initial Public Offer (IPO) of Bharat Highways InvIT received 8 times subscription on the last day of offer.
The IPO, aggregating up to Rs 2,500 crore, had a price range of Rs 98-100 per unit.
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.
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 kilometres of constructed and operational roads.
