Highway Infrastructure IPO to Open on August 5: All You Need to Know

Source: SEBI
Highway Infrastructure Ltd., a leading infrastructure and tollway management company, is all set to launch its Initial Public Offering (IPO) on August 5, 2025. The issue will remain open for subscription till August 7, 2025, and the company plans to raise approximately ₹130 crore through a mix of fresh issue and Offer for Sale (OFS).

With a strong presence across 11 states and one Union Territory, Highway Infrastructure operates in three key segments: tollway collection, EPC infra projects, and real estate development. The toll business, particularly on the Delhi-Meerut Expressway using ANPR technology, has been a major revenue driver. The firm also boasts a solid order book of ₹666.31 crore and a nearly 30-year legacy in infrastructure execution.

Highway Infrastructure IPO Highlights

Highway Infrastructure IPO Promoter Holding Pattern

Promoters: Arun Kumar Jain, Anoop Agrawal, and Riddharth Jain

Highway Infrastructure IPO Company Financials (₹ in Crores)

Highway Infrastructure Ltd Company Overview.

Highway Infrastructure Ltd. (HIL) is a diversified infrastructure development and management company with nearly 30 years of industry experience. The company operates primarily across three verticals:

• Tollway Collection – Its core business, where the company operates toll plazas across major expressways and highways.
• EPC Infra Projects – Involves engineering, procurement, and construction of roads, bridges, tanks, irrigation structures, and civil buildings.
• Real Estate – A smaller segment focusing on developing residential and commercial properties, including gated communities.
  

As of May 31, 2025, the company has:

• Completed 27 tollway collection projects and is operating 4 ongoing toll projects.
• Delivered 66 EPC infra projects, 4 more awaiting completion certificates, and is currently executing 24 projects.
• Projects executed across 11 states and 1 Union Territory, including Madhya Pradesh, Gujarat, Maharashtra, Telangana, Odisha, and Delhi.
  

The company has also worked under flagship government schemes such as PMAY (Pradhan Mantri Awas Yojana), PMGSY (Pradhan Mantri Gram Sadak Yojana), and Jal Jeevan Mission, showcasing its capabilities in both public and private sector infrastructure delivery.

Highway Infrastructure Company Strengths

1. Established Legacy & Experience

With nearly three decades of experience, the company has a strong track record in toll operations and infrastructure project execution across India. Its long-standing credibility allows it to qualify and bid for complex national infrastructure projects.

2. Advanced Tolling Technology

HIL is one of the few companies in India to implement ANPR (Automatic Number Plate Recognition)-based toll collection systems, notably on the Delhi-Meerut Expressway. It also uses Electronic Toll Collection (ETC) systems integrated with RFID technology, ensuring contactless, fast, and efficient tolling.

3. Pan-India Presence

The company has executed projects in over 11 states including Andhra Pradesh, Punjab, Rajasthan, and Uttar Pradesh. This widespread presence helps diversify risks and brings local execution expertise.

4. Robust Order Book

As of May 2025, the consolidated order book stands at ₹666.31 crore, comprising:

• ₹59.53 crore from tollway collection
• ₹606.77 crore from EPC Infra projects

This strong pipeline ensures future revenue visibility and operational momentum.

5. Integrated Execution Model

The company has developed in-house project delivery capabilities, allowing it to handle everything from planning to execution. It owns modern machinery, employs skilled manpower, and follows stringent quality controls.

Highway Infrastructure Ltd Growth Strategy

Highway Infrastructure Ltd. is focused on strengthening its core businesses—tollway collection and EPC infra—by bidding for more government and NHAI-backed projects. With around 5,100 km of tollable roads expected to be completed by FY25 (Source: PIB, CareEdge), the company sees strong revenue potential from increased traffic and toll collection.

The company also aims to:

• Use its tech-driven systems and strong execution capabilities to improve operational efficiency and stay competitive.
• Expand into new states across India to reduce concentration risk and access high-growth regions.
• Leverage national programs like Vision 2047, Bharatmala Pariyojana, and the National Infrastructure Pipeline (NIP) for future contracts.
• Diversify into related verticals like way side amenities (fuel stations, EV charging, rest stops) and HAM projects, where it can utilize existing expertise and assets.