Indore-based Highway Infrastructure Ltd (HIL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise an estimated ₹105 crore through an initial public offering (IPO). This offering includes a fresh equity sale and an offer for sale (OFS) of up to 31 lakh shares. HIL’s operational focus encompasses tollway collection, infrastructure development, and real estate, with tollway operations standing out as a cornerstone of its revenue model.
HIL has demonstrated remarkable growth, with revenues soaring from ₹355 crore in fiscal 2022 to ₹573 crore in fiscal 2024. Profit after tax also experienced a substantial increase, climbing from ₹8.5 crore to ₹21.4 crore over the same period. This growth trajectory underscores the company’s strategic investment in technology. Notably, HIL is among the few operators utilising Automatic Number Plate Recognition (ANPR) technology on the Delhi-Meerut Expressway. The deployment of electronic toll collection (ETC) systems, incorporating RFID tags and digital payment solutions, not only streamlines toll operations but also contributes to sustainability by minimising congestion and lowering carbon emissions. Meanwhile, Mumbai’s Jaro Institute of Technology Management and Research has also taken the IPO route, filing a DRHP to raise up to ₹170 crore in fresh equity, alongside an OFS worth ₹400 crore by promoter Sanjay Namdeo Salunkhe. With over 22 learning centres and partnerships with prestigious institutions like IITs and IIMs, Jaro is set to utilise the funds for marketing, brand enhancement, and debt repayment. The education sector is seeing a burgeoning demand for innovative learning solutions, making Jaro’s IPO particularly timely.
Both companies reflect a growing trend of sustainability within their respective sectors. HIL’s use of advanced technology not only enhances operational efficiency but also aligns with environmental goals, while Jaro’s focus on technology-driven education is paving the way for a greener, more informed generation. As stakeholders look towards these IPOs, there is a palpable sense of optimism about the potential for sustainable growth. Many individuals express hope that these developments will lead to improved infrastructure and educational outcomes, fostering a more robust economy for future generations. In the broader context, these IPOs signify a renewed investor confidence in sectors that are crucial for India’s growth narrative. The success of HIL and Jaro could pave the way for more companies to consider sustainable practices, ultimately benefiting both the economy and the environment.
