HIHighway Infrastructure544477Preferential allotment

Board approves higher authorised capital, warrants to promoters; proposes 51% stake acquisition

Authorised share capital raised to Rs. 50,00,00,000.

By ScoutQuest · Wed 14 Oct 2026, 8:39 PM IST · 2 min read

Authorised Share Capital Raised To

Rs. 50,00,00,000

Warrant Issue To Promoter / Promoter Group

Up to 1,00,00,000 warrants at Rs. 49.82/- each, aggregating up to Rs. 49,82,00,000/-, 25% payable upfront

Proposed Acquisition

51% of Indore Highway Real Estates Private Limited for Rs. 38,98,695/-, at Rs. 152.89/- per equity share

Three proposals came out of the board meeting of Highway Infrastructure Ltd held on 14th October 2026. The capital change and the warrant issue are subject to shareholder approval, and the board also approved the draft notice of an Extra-Ordinary General Meeting for that purpose.

Authorised share capital to be raised

• The board approved raising the authorised share capital to Rs. 50,00,00,000.
• Authorised capital is the ceiling up to which a company can issue shares. Raising it does not by itself mean any shares have been issued.
• The change is subject to approval of the shareholders in a general meeting.

Warrants to promoter and promoter group

• Up to 1,00,00,000 warrants, each convertible into or exchangeable for an equity share, through a preferential issue on a private placement basis.
• Issue price Rs. 49.82/- per warrant, aggregating up to Rs. 49,82,00,000/-; this covers both the warrant subscription price and the warrant exercise price.
• 25% of the issue price is payable by the warrant holders upfront at the time of subscription and allotment, and the balance is payable when the warrants are exercised.
• Warrants may be exercised in tranches; any warrant not exercised lapses, and the amount paid at subscription stands forfeited.
• The allottees named are Anoop Agrawal, Riddharth Jain and Tirth Agrawal, listed as Promoter and Promoter Group.
• A valuation report has been obtained from CA Vaibhav Mandhana, Registered Valuer.
• The resolution is subject to approval of the shareholders by way of a Special Resolution.

Proposed acquisition of a controlling stake

• The board proposed to acquire 51% of the paid-up equity share capital of Indore Highway Real Estates Private Limited.
• Consideration of Rs. 38,98,695/-, discharged in cash, at Rs. 152.89/- per equity share.
• The price is based on the fair value in the valuation report of CA Pankaj Shah, Registered Valuer, and the transaction is proposed on an arm's length basis.
• The purchase is proposed partly from persons related to directors — Mrs. Neetu Agrawal, Mrs. Jyoti Jain and Ms. Anshita Jain — so it is being treated as a related party transaction; a part is also proposed to be bought from Mrs. Rachna Agrawal, which does not constitute a related party transaction.
• The target is a private limited company engaged in the business of Infrastructure, with its presence in India.
• The acquisition is expected to strengthen the Company's presence in the infrastructure activities, and on completion the target company will become a subsidiary of the Company.

What a retail investor may note

• The warrant money comes in two stages: the upfront portion now, and the balance only if the holder chooses to exercise.
• Because it is a related party transaction, the acquisition goes through the related party framework under the Companies Act, 2013 and the SEBI LODR Regulations.
• Exercise of the warrants would bring in new equity shares over time.

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