Anantam Highways Trust is an InvIT focused on road infrastructure, set up by Alpha Alternatives Fund Advisors LLP on July 24, 2024, and registered with SEBI as an InvIT on August 19, 2024. The Sponsor is a multi‑strategy asset manager and a subsidiary of Alpha Alternatives Holdings Private Limited.
Anantam Highways InvIT IPO
Mainboard book‑built InvIT issue (100% Fresh)
UPCOMING IPOAnantam Highways Trust is launching a ₹400.00 crore InvIT IPO as a 100% fresh issue of 4,00,00,000 units, opening on October 7, 2025 and closing on October 9, 2025, with allotment expected on October 14 and listing proposed on BSE and NSE on October 17, 2025. The price band is ₹98 to ₹100 per unit; unit size and minimum application will follow exchange notification and RHP specifics.
| Issue Price Band | ₹98 to ₹100 per unit |
|---|---|
| Offer Structure | 100% Fresh Issue |
| Total Units | 4,00,00,000 units (aggregating up to ₹400.00 crore) |
| Issue Type | Book‑building InvIT |
| Listing | BSE, NSE |
| Lead Manager | Nuvama Wealth Management Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 75% of Issue Size |
| NII (HNI) | Not less than 25% of Issue Size |
InvIT allocations follow SEBI InvIT regulations; retail quota is typically embedded within non‑institutional where applicable.
| IPO Open | Tue, Oct 7, 2025 |
|---|---|
| IPO Close | Thu, Oct 9, 2025 |
| Allotment (Tentative) | Tue, Oct 14, 2025 |
| Refunds Initiation | Thu, Oct 16, 2025 |
| Credit to Demat | Thu, Oct 16, 2025 |
| Listing (Tentative) | Fri, Oct 17, 2025 |
| UPI Mandate Cut‑off | 5 PM on Thu, Oct 9, 2025 |
| Application | Lots | Units | Amount |
|---|---|---|---|
| Retail (Min) | — | — | — |
| Retail (Max) | — | — | — |
| NII (Min) | — | — | — |
| NII (Max) | — | — | — |
Unit lot size and corresponding amounts will be updated upon exchange confirmation; price computations use the cap price ₹100.
Anantam Highways Trust is an InvIT focused on road infrastructure, set up by Alpha Alternatives Fund Advisors LLP on July 24, 2024, and registered with SEBI as an InvIT on August 19, 2024. The Sponsor is a multi‑strategy asset manager and a subsidiary of Alpha Alternatives Holdings Private Limited.
The portfolio comprises seven highway projects totaling 271.65 km (1,086.60 lane km) across five states and one union territory: Dhrol Bhadra (DBHL), Dodaballapur Hoskote (DHHL), Repallewada (RHL), Viluppuram (VHL), Narenpur Purnea (NPHL), Bangalore Malur (BMHL), and Malur Bangarpet (MBHL), predominantly under the NHAI Hybrid Annuity Model supporting predictable cash flows.
- Attractive sector with favorable policy support and sustained road capex.
- Sizeable, diversified portfolio of long‑term annuity‑generating assets.
- Backed by Sponsor with sector expertise; DBL engaged for O&M and project management.
- Visible growth optionality via rights to acquire additional assets.
- Experienced management and strong O&M framework.
FY2023–FY2025 and Q1 FY2026 (₹ crore)
| Assets | Total Income | PAT |
|---|---|---|
| 4,151.92 (FY25) | 942.36 | 410.62 |
| 3,530.23 (FY24) | 2,527.05 | -160.05 |
| 2,425.48 (FY23) | 2,591.87 | -178.48 |
| 4,241.89 (Q1 FY26) | 212.28 | 67.86 |
Provided figures reflect the given summary; EBITDA, net worth, reserves, and borrowings will be added when disclosed in the RHP extract for InvIT financials.
The Anantam Highways InvIT IPO looks like an interesting opportunity for those looking to diversify into road infrastructure. With a fresh issue size of ₹400 crore, it’ll be interesting to see how the market reacts, especially with a significant portion reserved for QIBs.