Anantam Highways InvIT IPO Details
The key details of Anantam Highways Trust’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹400.00 Cr |
| Price Range | ₹98 - ₹100 |
| Retail Quota | -- |
| QIB Quota | 75% |
| NII Quota | 25% |
| Employee Discount | -- |
| Listing at | NSE and BSE |
| Minimum Quantity | 150 |
| Investment (cut-off price) | ₹15,000 |
| Pre IPO Promotor Holding | -- |
| Post IPO Promotor Holding | -- |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Anantam Highways InvIT IPO Timelines
The IPO process for Anantam Highways Trust includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
07/10/2025
Start Date09/10/2025
End Date16/10/2025
Refund Initiation16/10/2025
Credit of Shares to Demat Ac17/10/2025
Listing DateAnantam Highways InvIT IPO Lot Size
The Anantam Highways Trust IPO has a fixed lot size of 150 units, at an upper price band of ₹100 per unit. For all investors, the minimum application is 150 units (1 lot) amounting to ₹15,000, while the maximum is 4,950 units (33 lots) worth ₹4,95,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| All Investor Minimum | 1 | 150 | ₹15,000 |
| All Investor Maximum | 33 | 4950 | ₹4,95,000 |
Anantam Highways InvIT IPO Subscription Status
The subscription status for Anantam Highways Trust IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 2.92x | 9.05x | -- | -- | 5.74x |
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Anantam Highways InvIT IPO Company Financials
Anantam Highways Trust reports robust performance in FY2025 with Total Income of ₹942.36 crores, managing expenses at ₹546.94 crores, and achieving a strong PAT (Profit After Tax) of ₹410.62 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹2,591.87 | ₹2,764.34 | -₹178.48 |
| FY 2024 | ₹2,527.05 | ₹2,646.74 | -₹160.05 |
| FY 2025 | ₹942.36 | ₹546.94 | ₹410.62 |
| FY 2026 (3 M) | ₹212.28 | ₹112.84 | ₹67.86 |
About Company
Anantam Highways Trust is an Indian infrastructure investment trust focused on road infrastructure. It was established by Alpha Alternatives Fund Advisors LLP, known as the Sponsor, on July 24, 2024, and registered with the Securities and Exchange Board of India as an InvIT on August 19, 2024. The Sponsor is a multi-strategy asset management firm that invests across various asset classes including infrastructure, credit, real estate, equities, commodities, and fixed income. It operates as a subsidiary of Alpha Alternatives Holdings Private Limited.
The Trust’s portfolio comprises seven highway projects with a combined total length of 271.65 kilometers or 1,086.60 lane kilometers. These projects span five Indian states and one union territory, reflecting a geographically diverse investment spread. The highway assets include Dhrol Bhadra Highways, Dodaballapur Hoskote Highways, Repallewada Highways, Viluppuram Highways, Narenpur Purnea Highways, Bangalore Malur Highways, and Malur Bangarpet Highways.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2024 | Infrastructure | Jignesh Shah |
Know Before Investing
Anantam Highways InvIT IPO Strengths
- Anantam Highways InvIT operates under the Hybrid Annuity Model (HAM) of NHAI, offering predictable and inflation-linked cash flows with traffic risk borne by the government, ensuring stable earnings.
- Its initial portfolio includes seven road projects across six states with a combined length of over 271 km (1,086 lane km), reducing dependency on any single asset or geography.
- The road projects have an average concession life of about 17 years, with 12-13 years of residual life as of June 2025, guaranteeing prolonged revenue visibility.
- Sponsored by Alpha Alternatives Fund Advisors LLP, a subsidiary of Alpha Alternatives Holdings, providing seasoned investment and asset management expertise.
- Most underlying projects are operational with established maintenance practices and have demonstrated timely receipt of annuities without material deductions.
- SEBI InvIT regulations limit aggregated borrowings to below 49% loan-to-value ratio, supporting manageable leverage and credit health.
Anantam Highways InvIT IPO Risks
- Being a recently formed InvIT (registered in 2024), historical performance as a consolidated trust is limited compared to established infrastructure trusts.
- The trust’s entire asset base is under the Hybrid Annuity Model, concentrating risk on model-specific operational and reimbursement performance.
- Some assets are yet to receive final commercial operation certification, which may expose revenue recognition uncertainty or project delays.
- While traffic risk is borne by NHAI, other risks such as construction delays, operation and maintenance challenges, or regulatory compliance remain.
- Debt is currently at Project SPV level; while expected to be refinanced at InvIT level, any refinancing delays or adverse terms could impact cash flows.
- Infrastructure demand and government project funding can be affected by economic slowdowns, budgetary constraints, or policy shifts.
Swot Analysis for Anantam Highways InvIT IPO
Strengths
Stable, Inflation-Linked Revenues, Operational Asset Base, Attractive Sector Fundamentals
Weaknesses
Depends on HAM Model, Regulatory and Market Risks, Limited Direct Control over Projects
Opportunities
Growing Infrastructure Investment, Deleveraging and Capital Recycling, Sustainability and ESG Focus
Threats
Project Execution Delays, Interest Rate and Refinancing Risks, Traffic Growth Uncertainty in Future
Company Details
Anantam Highways Trust
33rd Floor, Sunshine Tower, Senapati Bapat Marg, Dadar West, Mumbai, Maharashtra, 400013
Phone: +022 6145 8900
Email: anantam.cs@alt-alpha.com
Website: http://www.anantamhighways.com/
IPO Registar Details
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: anantam.invitipo@kfintech.com
Website: https://ipostatus.kfintech.com/
FAQs
The key objectives of Anantam Highways InvIT IPO are:
- Providing loans to the Project SPVs for repayment or pre-payment of debt, in part of in full, including any accrued interest, of their respective outstanding borrowings; and
- General purposes
Nuvama Wealth Management Ltd. is the book-running lead managers for the Anantam Highways InvIT IPO.
Anantam Highways InvIT IPO shows strong growth potential with FY25 revenue of ₹926.55 crore and net income of ₹410.62 crore. Backed by Alpha Alternatives, its 7 highway projects under the Hybrid Annuity Model ensure stable returns, supported by government infrastructure push and long concession periods.
The issue price for the Anantam Highways InvIT IPO is set between ₹98 to ₹100 per share.
To invest in one lot of Anantam Highways InvIT IPO, you need ₹14,700 at the lower price band (₹98 per share) or ₹15,000 at the upper price band (₹100 per share) for a lot size of 150 shares.
Anantam Highways InvIT IPO shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 17, 2025.
Refund/unblocking of funds for Anantam Highways InvIT IPO will begin on October 16, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Anantam Highways InvIT IPO shares on listing day (October 17, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.