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Highway Infrastructure Starts ₹328.77 Cr Toll Operations; Order Book Hits ₹1,144 Cr
Highway Infrastructure Limited (HIL) has commenced toll operations at the Kaza Fee Plaza in Andhra Pradesh, its largest single contract to date valued at ₹328.77 crore. This operational milestone has propelled the company's tollways order book to ₹510 crore, a 348% increase since March 2025. The total consolidated order book now stands at ₹1,144 crore, with the EPC segment also growing 52% to ₹633 crore. This asset-light project on the high-traffic NH-16 corridor is expected to provide immediate revenue and strong cash flow visibility.
Key Highlights
Execution of largest-ever toll contract worth ₹328.77 crore at Kaza Fee Plaza
Tollways order book grew 348% from ₹114 crore to ₹510 crore since March 2025
Total consolidated order book reached ₹1,144 crore, enhancing revenue visibility
EPC order book increased 52% to ₹633 crore during the same period
Project covers an 82.5 km stretch on the strategically important NH-16 corridor
💼 Action for Investors
The significant scale-up in the tolling vertical and robust order book growth signal strong near-term growth; investors should monitor execution margins and contract renewals.
Highway Infrastructure Secures Rs. 64.68 Cr NHAI Toll Contract for Mundka Plaza
Highway Infrastructure Limited (HILINFRA) has been awarded a Rs. 64.68 Crores toll collection contract by NHAI for the Mundka Fee Plaza on the Delhi-Haryana corridor. This contract has a short execution period of 3 months, promising immediate revenue impact. The company has shown aggressive growth momentum, securing approximately Rs. 495 Crores in total orders over the last two months. This win strengthens HIL's asset-light business model and expands its footprint in high-traffic national highway segments.
Key Highlights
Awarded Rs. 64.68 Crores NHAI contract for user-fee collection at Mundka Fee Plaza
Cumulative order wins reached approximately Rs. 495 Crores in the last 2 months
Toll-specific portfolio grew by Rs. 425.50 Crores within the same 60-day period
Project features a 3-month execution timeline on a high-traffic urban extension corridor
Strategic focus on expanding into high-growth regions like Gujarat, Assam, and the North-East
💼 Action for Investors
Investors should note the rapid order book accretion which signals strong revenue visibility for the upcoming quarters. Monitor the company's ability to maintain this momentum and successfully bid for longer-duration expressway projects.
HILINFRA Secures ₹64.69 Crore NHAI Contract for Mundka Fee Plaza Operations
Highway Infrastructure Limited (HILINFRA) has been awarded a contract worth ₹64.69 crore by the National Highways Authority of India (NHAI). The contract involves the operation and collection of user fees at the Mundka Fee Plaza on the UER-11 project spanning Delhi and Haryana. The scope also includes the maintenance of adjacent toilet blocks and facilities. With a short execution period of 90 days, this contract is expected to provide a quick boost to the company's top-line revenue.
Key Highlights
Received Letter of Acceptance (LOA) from NHAI for a contract valued at ₹64,68,99,930.
Project involves user fee collection at Mundka Fee Plaza (Km 22+750) for the UER-11 development.
The contract has a specified execution timeline of 90 days.
Includes maintenance responsibilities for adjacent toilet blocks and consumable management.
💼 Action for Investors
Investors should track the successful execution of this short-term contract as it demonstrates the company's operational capability with NHAI. Continued wins in the toll-collection segment could improve cash flow predictability.
HILINFRA Secures Rs 69.68 Cr EPC Order; Total Order Book Reaches Rs 1,144 Cr
Highway Infrastructure Limited (HILINFRA) has secured a new EPC order worth Rs 69.68 crores from the Indore Development Authority for urban road development. This win brings the company's total consolidated order book to Rs 1,144 crores as of January 2026. The EPC segment has shown robust growth of 52% YTD, while the Tollways collection segment has surged by 348% since March 2025. The new project has a 2.5-year execution timeline, providing healthy revenue visibility for the upcoming fiscal years.
Key Highlights
Secured Rs 69.68 crore EPC order from Indore Development Authority for urban road development.
Total consolidated order book reached Rs 1,144 crores as of January 16, 2026.
EPC order book grew 52% YTD to Rs 633 crores from Rs 417 crores in March 2025.
Tollways collection order book surged 348% YTD to Rs 510 crores from Rs 114 crores.
The new project features a 2.5-year execution timeline, strengthening medium-term revenue visibility.
💼 Action for Investors
Investors should view this as a positive development reflecting strong order book momentum and execution capabilities in the urban infrastructure space. Monitor the company's ability to maintain margins while scaling its EPC and Tollway portfolios rapidly.
Highway Infrastructure Bags ₹69.69 Crore Road Project from Indore Development Authority
Highway Infrastructure Limited has secured a domestic contract worth ₹69.69 crore from the Indore Development Authority (IDA). The project involves the development of a road under Town Planning Scheme-08, stretching from Kumedi to Lasudiya Mori in Indore. The execution timeline for this project is set at 30 months, providing steady revenue visibility for the company. This win strengthens the company's order book and its footprint in the regional infrastructure space.
Key Highlights
Total contract value is ₹69,68,72,954.73 plus applicable GST.
Awarded by the Indore Development Authority (IDA) for road development in Indore.
The project execution period is stipulated at 30 months.
Includes a 5% Performance Security of ₹3.48 crore and an additional 7.87% security of ₹6.68 crore.
💼 Action for Investors
Investors should monitor the company's execution progress and margin performance over the 30-month project lifecycle. This order win is a positive signal for the company's growth trajectory in the infrastructure sector.
Highway Infrastructure Bags ₹69.69 Crore Road Development Project from IDA
Highway Infrastructure Limited has secured a significant contract worth ₹69.69 Crore from the Indore Development Authority (IDA). The project involves the development of a road under Town Planning Scheme-08, spanning from Kumedi to Lasudiya Mori in Indore. The execution period for this domestic project is set at 30 months, providing long-term revenue visibility. This win strengthens the company's regional presence and order book in the infrastructure sector.
Key Highlights
Awarded a contract worth ₹69,68,72,954.73 plus applicable GST by Indore Development Authority.
Project involves road development under Town Planning Scheme-08 in Indore, Madhya Pradesh.
The execution timeline for the project is stipulated at 30 months.
Requires a 5% Performance Security of ₹3.48 Crore and an additional 7.87% security of ₹6.68 Crore.
The contract is a domestic order with no promoter or related party interest involved.
💼 Action for Investors
Investors should view this as a positive development for the company's order book and monitor the execution progress over the next 30 months. It is important to track the company's quarterly revenue recognition from this project to ensure it stays on schedule.
Hilton Metal Forging Allots 1.13 Cr Equity Shares via Rights Issue, Raising Rs 31.99 Cr
Hilton Metal Forging Limited has successfully completed the allotment of 1,12,96,551 equity shares under its Rights Issue. The shares were issued at a price of Rs. 28.32 per share, including a premium of Rs. 18.32, aggregating to a total fundraise of approximately Rs. 31.99 crore. This move has expanded the company's paid-up equity share capital from Rs. 23.40 crore to Rs. 34.70 crore. The allotment follows the terms set in the Letter of Offer dated December 20, 2025.
Key Highlights
Allotted 1,12,96,551 fully paid-up equity shares at an issue price of Rs. 28.32 per share
Total capital raised through the Rights Issue amounts to Rs. 31,99,18,324.32
Post-issue paid-up equity share capital increased to 3,46,96,551 shares from 2,34,00,000 shares
The issue price includes a face value of Rs. 10.00 and a premium of Rs. 18.32 per share
Allotment finalized in consultation with Purva Sharegistry (India) Private Limited and BSE Limited
💼 Action for Investors
Investors should track the company's utilization of these funds for growth or debt reduction, while noting the equity dilution resulting from the increased share count.
Hilton Metal Forging Allots 1.13 Cr Shares via Rights Issue, Raising Rs 31.99 Cr
Hilton Metal Forging Limited has finalized the allotment of 1,12,96,551 equity shares following its Rights Issue. The shares were issued at a price of Rs. 28.32 per share, including a premium of Rs. 18.32, resulting in a total fundraise of approximately Rs. 31.99 crore. This allotment has increased the company's total paid-up equity share capital from 2.34 crore shares to 3.47 crore shares. This capital infusion strengthens the company's financial position but leads to significant equity dilution.
Key Highlights
Allotted 1,12,96,551 fully paid-up equity shares at an issue price of Rs. 28.32 per share.
Total capital raised through the Rights Issue amounts to Rs. 31,99,18,324.32.
Paid-up equity share capital increased from Rs. 23.40 crore to Rs. 34.70 crore.
The issue price included a premium of Rs. 18.32 over the face value of Rs. 10 per share.
💼 Action for Investors
Investors should note the significant equity dilution of approximately 48% and monitor how the company utilizes the Rs. 32 crore for future growth or debt reduction. The impact on Earnings Per Share (EPS) will likely be visible in the upcoming quarters.
HILINFRA Bags ₹328.78 Crore NHAI Contract for Kaza Fee Plaza Operations
Highway Infrastructure Limited (HILINFRA) has signed a formal contract agreement with the National Highways Authority of India (NHAI) for user fee collection at the Kaza Fee Plaza in Andhra Pradesh. The contract is valued at approximately ₹328.78 crore for a one-year period. The company is scheduled to take over the operations on January 23, 2026. This project covers a significant 82.5 km stretch of the Chilakaluripet-Vijayawada section of NH-16.
Key Highlights
Total contract value is ₹328,77,77,777 (approx. ₹328.78 Cr)
Contract awarded by the National Highways Authority of India (NHAI)
Project involves operation and collection of user fees for a one-year duration
Covers an 82.5 km stretch on the NH-16 section in Andhra Pradesh
Official takeover of the Fee Plaza scheduled for January 23, 2026
💼 Action for Investors
Investors should view this as a significant revenue-generating milestone that provides clear top-line visibility for the next 12 months. Monitor the company's ability to maintain margins on this high-value toll-collection contract.
Highway Infrastructure Wins Rs 32 Cr NHAI Toll Contract; Order Book Crosses Rs 1,000 Cr
Highway Infrastructure Limited (HIL) has secured a Letter of Award from the National Highways Authority of India (NHAI) for toll operations at Jawar Fee Plaza in Uttar Pradesh. The contract is valued at Rs 32.00 crores for a one-year period and involves user fee collection and maintenance on NH-530B. This win is strategically significant as it pushes the company's consolidated order book past the Rs 1,000 crore milestone. The management expects this to enhance revenue visibility and support margin stability for the upcoming fiscal year.
Key Highlights
Received Rs 32.00 crore Letter of Award from NHAI for toll operations in Uttar Pradesh.
Consolidated order book has officially surpassed the Rs 1,000.00 crore milestone.
Contract covers user fee collection and plaza maintenance for a duration of one year.
Strengthens the company's operational footprint which currently spans 11 states and 1 Union Territory.
💼 Action for Investors
Investors should view the Rs 1,000 crore order book milestone as a positive indicator of the company's scale and growth potential. Monitor the company's quarterly execution performance to ensure these contracts translate into bottom-line growth.
Highway Infrastructure Bags ₹32.01 Cr NHAI Contract for Toll Operations in UP
Highway Infrastructure Limited has secured a Letter of Acceptance from the National Highways Authority of India (NHAI) for toll collection operations. The contract, valued at approximately ₹32.01 Crores, involves user fee collection at the Jawar Fee Plaza on the Mathura to Devinagar Bypass in Uttar Pradesh. The project duration is set for one year and includes the maintenance of adjacent toilet blocks. This win strengthens the company's portfolio in the road infrastructure and toll management sector.
Key Highlights
Awarded a contract worth ₹32,00,77,777 by the National Highways Authority of India (NHAI)
Contract involves operation and collection of user fees at Jawar Fee Plaza, Uttar Pradesh
The project covers the Mathura to Devinagar Bypass section of National Highway 530B
The execution period for the contract is one year from the date of commencement
Includes additional responsibility for the upkeep and maintenance of adjacent toilet blocks
💼 Action for Investors
Investors should monitor the company's ability to execute such short-term high-value contracts efficiently to improve margins. The steady flow of NHAI orders is a positive sign for the company's operational stability.
Hilton Metal Forging Announces ₹31.99 Crore Rights Issue at ₹28.32 per Share
Hilton Metal Forging Limited has issued a pre-issue advertisement for its upcoming rights issue aimed at raising approximately ₹31.99 crore. The company will issue 1,12,96,551 equity shares at a price of ₹28.32 per share, which includes a premium of ₹18.32. Shareholders as of the record date, December 26, 2025, are eligible to participate in a ratio of 14:29. This capital infusion is intended to support the company's financial requirements as outlined in the Letter of Offer.
Key Highlights
Total issue size of 1,12,96,551 equity shares aggregating to ₹31,99,18,524.32
Rights issue price fixed at ₹28.32 per share (Face Value ₹10 + Premium ₹18.32)
Rights entitlement ratio set at 14 shares for every 29 equity shares held
Record date for eligibility was Friday, December 26, 2025
Pre-issue advertisements published in Financial Express, Jansatta, and Pratahkal on December 31, 2025
💼 Action for Investors
Existing shareholders should evaluate the rights price against the current market price to decide on exercising their rights or trading their entitlements. Investors not participating will face a dilution of their shareholding percentage.
Shilpa Medicare Receives Delhi High Court Injunction Over Ruxolitinib Patent Infringement
Shilpa Medicare and its subsidiaries have received an ex-parte ad-interim injunction from the Delhi High Court regarding the drug Ruxolitinib. The order restrains the company from manufacturing, exporting, or selling the product due to alleged infringement of Patent No. IN269841. The company clarified that the product was used solely for research purposes and claims there is no immediate financial impact on current operations. While a Local Commissioner inspected the premises and records, the company reports that business continues as usual.
Key Highlights
Delhi High Court issued an injunction against Shilpa Medicare and two subsidiaries regarding Ruxolitinib API.
The order restrains manufacturing, stockpiling, and exporting of products infringing Patent No. IN269841.
Company states the drug was utilized for research purposes only with no current financial impact.
Local Commissioner inspected office premises and stock registers on December 29, 2025.
Shilpa Medicare is evaluating legal options including filing responses or appeals against the order.
💼 Action for Investors
Investors should monitor the legal proceedings for any potential penalties or restrictions on future product launches. While the immediate financial impact is nil, patent litigation can affect the company's R&D pipeline and legal expenses.
Hilton Metal Forging Revises Rights Issue Schedule; Opening Jan 05, 2026
Hilton Metal Forging Limited has announced a revised schedule for its upcoming rights issue following a board meeting on December 22, 2025. The rights issue is now scheduled to open on January 05, 2026, and will conclude on January 12, 2026. The on-market renunciation period is set for January 05 to January 07, 2026, while off-market renunciation ends on January 09, 2026. All other terms previously approved on December 20, 2025, remain unchanged.
Key Highlights
Rights Issue opening date rescheduled to Monday, January 05, 2026
Rights Issue closing date set for Monday, January 12, 2026
On-market renunciation period window is from January 05 to January 07, 2026
Off-market renunciation period ends on Friday, January 09, 2026
💼 Action for Investors
Existing shareholders should mark the revised dates to ensure they apply for the rights or renounce them within the shortened three-day on-market window. Investors should review the final Letter of Offer for pricing and entitlement ratios before the opening date.
Hilton Metal Forging to Raise Rs 32 Crore via Rights Issue at Rs 28.32 per Share
Hilton Metal Forging Limited has announced a rights issue to raise approximately Rs 31.99 crore. The company will issue 1.13 crore equity shares at a price of Rs 28.32 per share to existing shareholders. The entitlement ratio is fixed at 14:29, meaning 14 new shares for every 29 shares held as of the record date, December 26, 2025. This capital infusion will increase the total outstanding shares by approximately 48% upon full subscription.
Key Highlights
Rights issue ratio set at 14 equity shares for every 29 shares held by eligible shareholders.
Issue price fixed at Rs 28.32 per share, aiming to raise a total of Rs 31,99,18,324.
Record date for eligibility is December 26, 2025, with the issue opening on January 5, 2026.
The rights issue closing date is revised to January 12, 2026, with renunciation ending January 9.
Total equity base to expand from 2.34 crore shares to 3.47 crore shares post-issue.
💼 Action for Investors
Investors should compare the issue price of Rs 28.32 with the current market price to decide on subscribing or renouncing their rights before the January 9 deadline.
Hilton Metal Forging Announces ₹31.99 Cr Rights Issue at ₹28.32 per Share; Ratio 14:29
Hilton Metal Forging Limited has approved a Rights Issue to raise approximately ₹31.99 crore by issuing 1,12,96,551 equity shares. The issue is priced at ₹28.32 per share, which represents the total cost including premium for eligible shareholders. The board has set the entitlement ratio at 14 shares for every 29 shares held as of the record date, December 26, 2025. The subscription period will run from January 5 to January 11, 2026, with the on-market renunciation period ending on January 8, 2026.
Key Highlights
Total issue size of ₹31,99,18,324.32 through the issuance of 1,12,96,551 equity shares.
Rights entitlement ratio fixed at 14:29 (14 new shares for every 29 held).
Issue price set at ₹28.32 per share with the record date fixed for December 26, 2025.
Rights issue period scheduled from January 5, 2026, to January 11, 2026.
Total outstanding shares to increase from 2.34 crore to 3.47 crore post-issue, assuming full subscription.
💼 Action for Investors
Investors should compare the rights issue price of ₹28.32 with the current market price to determine the attractiveness of the offer. Those wishing to participate must ensure they hold shares by the record date of December 26, 2025.
Hilton Metal Forging to Raise ₹32 Cr via Rights Issue at ₹28.32; Record Date Dec 26
Hilton Metal Forging has finalized a Rights Issue to raise ₹31.99 crore by issuing 1,12,96,551 equity shares. The issue price is set at ₹28.32 per share with an entitlement ratio of 14:29. The record date to determine eligible shareholders is December 26, 2025. The subscription period will run from January 5 to January 11, 2026, potentially increasing the total share count from 2.34 crore to 3.47 crore.
Key Highlights
Total issue size of ₹31.99 crore at a fixed price of ₹28.32 per share
Entitlement ratio of 14 rights equity shares for every 29 shares held
Record date for eligibility is December 26, 2025; issue opens January 5, 2026
Post-issue equity capital to increase by approximately 48% assuming full subscription
On-market renunciation period ends on January 8, 2026
💼 Action for Investors
Existing shareholders should compare the ₹28.32 issue price with the current market price to determine if they should subscribe or renounce their rights. Ensure shares are in the demat account before the December 26 record date to be eligible.
Hilton Metal Forging to Raise ₹31.99 Cr via Rights Issue at ₹28.32 per Share
Hilton Metal Forging Limited has finalized the terms for a Rights Issue to raise approximately ₹31.99 crore. The company will issue 1,12,96,551 equity shares at a price of ₹28.32 per share. The rights entitlement ratio is fixed at 14:29, meaning eligible shareholders will receive 14 shares for every 29 held as of the record date, December 26, 2025. The issue is scheduled to open on January 05, 2026, and close on January 11, 2026.
Key Highlights
Total fundraise of ₹31.99 crore through the issuance of 1.13 crore equity shares.
Issue price set at ₹28.32 per share with a rights ratio of 14:29.
Record date for determining eligibility is Friday, December 26, 2025.
Post-issue share capital will increase from 2.34 crore to 3.47 crore shares, assuming full subscription.
Rights issue period is set from January 05, 2026, to January 11, 2026.
💼 Action for Investors
Investors should monitor the stock price relative to the ₹28.32 issue price; if the market price is higher, they should consider subscribing or selling their rights entitlements to avoid value dilution. Ensure shares are held before the December 26 record date to be eligible.
Hilton Metal Forging Announces ₹31.99 Cr Rights Issue at ₹28.32 per Share; Ratio 14:29
Hilton Metal Forging Limited has approved a rights issue to raise approximately ₹31.99 crore by issuing 1,12,96,551 equity shares. The issue is priced at ₹28.32 per share, representing a specific entitlement ratio of 14 shares for every 29 shares held as of the record date, December 26, 2025. This move will expand the company's equity base from 2.34 crore to 3.47 crore shares, assuming full subscription. The subscription window is scheduled to open on January 5, 2026, and close on January 11, 2026.
Key Highlights
Rights issue size of ₹31.99 crore involving 1,12,96,551 new equity shares
Issue price fixed at ₹28.32 per share with an entitlement ratio of 14:29
Record date for eligibility is December 26, 2025; Issue opens January 5, 2026
Total equity base to increase by approximately 48% post-issue completion
On-market renunciation period for rights entitlements ends on January 8, 2026
💼 Action for Investors
Existing shareholders should evaluate the issue price against the current market price to decide whether to subscribe or renounce their rights. Those not intending to participate should sell their rights entitlements during the renunciation period to mitigate the impact of equity dilution.
RUSHIL forfeits ₹7,42,50,000 from convertible warrants of Vespera Fund Limited
Rushil Decor Limited has announced the forfeiture of ₹7,42,50,000 related to 10,00,000 convertible warrants held by Vespera Fund Limited. This decision was made due to non-receipt of 75% of the amount due on these warrants, as per Regulation 169(3) of SEBI regulations. The Fund Raising Committee approved this forfeiture in their meeting held on December 12, 2025. Vespera Fund Limited has agreed to the company's decision to forfeit the warrants.
Key Highlights
Forfeiture of ₹7,42,50,000 from convertible warrants
10,00,000 convertible warrants held by Vespera Fund Limited
25% of amount paid forfeited due to non-receipt of 75% amount
Fund Raising Committee meeting held on December 12, 2025
Regulation 169(3) of SEBI (ICDR) Regulations, 2018 invoked
💼 Action for Investors
Investors should note the forfeiture of warrants and its potential impact on the company's financials. Monitor further announcements from the company regarding fund raising and warrant conversions.