• Source:PTI
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Bharat Highways InvIT, an infrastructure investment trust, announced that it will launch its Rs 2,500 crore initial public offering (IPO) on February 28. InvIT's initial public offering will close on March 1. The company has set a price band at Rs 98-100 for the issue, Bharat Highways Invit said in a statement.

The proceeds of this issue will be used to provide loans to scheme SPVs (Special Purpose Vehicles) to repay 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 and to perform the functions of an infrastructure investment trust under the SEBI InvIt Rules.

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Its initial portfolio consists of seven road assets, all operating on a HAM (Hybrid Annuity Model) basis, covering approximately 497.292 km of constructed and operational roads in Punjab, Gujarat, Andhra Pradesh, Maharashtra and Uttar Pradesh.

Additionally, InvIT has tied up with GR Infraprojects Limited (GRIL). GRIL has granted Invit the right of first refusal to acquire some of its road assets.

75 per cent of the issue volume is reserved for Qualified Institutional Bidders (QIBs) and 25 per cent for Non-Institutional Investors (NIIs). Investors can bid for a minimum of 150 units per lot and in multiples of 150 units thereof. The shares are proposed to be listed on BSE and NSE.

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