The Highway Infrastructure IPO has generated significant interest, and investors are eagerly awaiting its allotment status. This article provides a detailed update on when and how to check your allotment status, the impact of application rejections on your chances, and the current Grey Market Premium (GMP).
Highway Infrastructure IPO Allotment Status: When and How to Check
For those who applied for the Highway Infrastructure IPO on August 5th, 6th, or 7th, the allotment status is expected to be visible on the registrar’s site by late night on August 8th. Updates will also be shared on the Telegram group linked in the comments for timely information.
To check your allotment status:
- Visit the registrar’s website (a direct link will be shared on the Telegram group).
- Scroll down to the “Company Name” section.
- Select “Highway Infrastructure Limited” from the list once it appears.
- Enter your PAN number.
- Solve the given captcha.
- Click on the “Search” button to view your allotment status.
Detailed Application and Subscription Overview
The Highway Infrastructure IPO saw overwhelming demand. In the retail individual investor category, approximately 78,57,218 equity shares were offered. Against this, bids were received for a staggering 122 crore 24 lakh 21,326 equity shares. The total number of lots bid for stood at 57,93,446.
Overall, the IPO was subscribed approximately 316 times, with the retail portion subscribed around 155-156 times.
Significant Application Rejections to Boost Allotment Chances
A notable number of applications are set to be rejected, which will increase the allotment chances for eligible investors. Applications made at the lower price band of ₹20 are being rejected. Only applications submitted at the cut-off price (₹21) will be accepted and considered for allotment through the lottery system.
Specifically, bids for 20 crore 19 lakh 70 thousand 444 equity shares were placed at the lower price band. This translates to approximately 9,57,204 lots, which will be rejected. Conversely, bids for approximately 10 crore 24 lakh 51 thousand 282 equity shares were made at the cut-off price, resulting in approximately 48,36,262 accepted lots that will enter the lottery system.
Allotment Odds Across Categories
Due to the high number of rejections, the chances of allotment have improved for many investors.
- Retail Category: Despite the high subscription, roughly 1 in every 120 retail applications is expected to receive an allotment.
- HNI Category: The HNI category was subscribed around 473 times (Big HNI: 484 times, Small HNI: 424 times). For Big HNI, the chance is about 1 in 96 applications, and for Small HNI, it is approximately 1 in 424 applications.
- QIB Category: The Qualified Institutional Buyers (QIB) category was subscribed over 432 times.
Current Grey Market Premium (GMP) Update
The Grey Market Premium (GMP) for Highway Infrastructure IPO reached a high of ₹40. Currently, the GMP is trading at ₹36. With an upper price band of ₹70, a GMP of ₹36 suggests a potential listing price of around ₹106. This indicates an expected listing gain of approximately ₹7,500 per lot, representing a gain of about 51-52%.
Stay tuned for more updates on this IPO. For any further queries, feel free to ask in the comments.
