Bharat Highways InvIT, an infrastructure investment trust, on Thursday said it will launch its Rs 2,500 crore Initial Public Offering (IPO) on February 28.
The InvIT’s maiden public issue will conclude on March 1 and the price band has been set at Rs 98-100 per unit for the issue, Bharat Highways InvIT said in a statement.
Proceeds from the issue will be utilised to provide loans to the Project SPVs (special purpose vehicles) for repayment of their outstanding loans.
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Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust under Sebi’s InvIT rule.
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 km of constructed and operational roads.
Additionally, the InvIT has entered into an agreement with G R Infraprojects Ltd (GRIL) after which GRIL granted a right of first offer to the InvIT to acquire certain of its road assets.
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About 75 per cent of the issue size has been reserved for Qualified Institutional Bidders (QIBs) and 25 per cent for Non-institutional Investors (NIIs). Investors can bid for a minimum of 150 units in one lot and in multiples of 150 units thereof.
ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities are the book running lead managers to the issue.
The units are proposed to be listed on BSE and NSE.
After outcry from players, Niantic has announced it’s keeping its pandemic-era design shifts for Pokémon Go.
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Starting today, players can interact with Pokémon Go’s key location hubs from up to 80 meters away, which offers much more space for soc…
Nintendo has a new way for you to drift off to sleep with Alarmo. Mario Kart 8 Deluxe scenes are now available on the alarm clock, with seven different options to owners of the device.
On X, the official Nintendo of America account announced the arrival of Mario Kart 8 Deluxe on Alarmo. Though the company noted owners must have the alarm clock connected to the internet as well as a Nintendo Account to receive the free update. Below are the newly added scenes:
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The next big Baldur’s Gate 3 patch is arriving in September. With it comes a big quality-of-life change for split-screen play, extended evil endings, the game’s modding toolkit, and a number of bug fixes. You can even register on the game’s Steam page to try out the patch ahead of time.
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Indian government bond yields ended largely unchanged on Wednesday as traders refrained from placing big bets ahead of crucial domestic and U.S. inflation data, which will give more clarity on the interest rate path in both countries.
The 10-year benchmark bond yield ended at 7.1808% after closing at 7.1884% in the previous session. Underlying sentiment remained positive after a proposal to include bonds on the Bloomberg Emerging Market Local Currency index from September. Market participants expect inflows of around $3 billion.
“The optimism over the likely inclusion in Bloomberg index was short-lived because in the near term, U.S. yields and interest rate decision will have bigger impact on local yields,” said Debendra Kumar Dash, senior vice presid…
The combined market valuation of nine of the top-10 most valued firms climbed Rs 1,30,391.96 crore last week, with Bharti Airtel and Tata Consultancy Services (TCS) emerging as the biggest gainers, amid an overall optimistic trend in equities.
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Bharti Airtel’s valuation rallied Rs 23,746.04 crore to Rs 5,70,466.88 crore. The market capitalisation (mcap) of TCS jumped by Rs 19,027.07 crore to reach Rs 12,84,180.67 crore.
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Shares of Bharat Forge plunged more than 10% to an intra-day low of Rs 1,131 on NSE as of 2:43 pm Come from Sports betting site VPbet . The sudden decline in share value was attributed to the management’s revision of the growth outlook for both Q4 and the entire FY25.
Baba Kalyani, Chairman and Managing Director of Bharat Forge, stated, “Looking ahead in Q4 and further into FY25, we expect the growth momentum to moderate in both the domestic and export markets across industries. Our endeavor will be to outperform the market driven by our diversified business mix.”
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