The initial public offering of Highway Infrastructure Ltd. has been subscribed over 300 times on its third and final day on Thursday, led by strong demand from non-institutional investors.

The company operates in infrastructure development and management, with key areas including toll collection, engineering, procurement and construction projects and real estate development.

The Highway Infrastructure IPO is a book-built issue worth Rs 130 crore. It comprises a fresh issue of 1.39 crore shares, aggregating to Rs 97.52 crore, and an offer-for-sale component of 46 lakh shares, amounting to Rs 32.48 crore.

The date of allotment of IPO shares will be Aug. 8. Highway Infrastructure is tentatively scheduled to be listed on the BSE and NSE next Tuesday.

Highway Infrastructure aims to utilise the proceeds from the IPO for specific business needs. A portion of the funds will be allocated towards meeting the company’s working capital requirements. The remaining amount will be used for general corporate purposes.