Anantam Highways Trust IPO sees 41% subscription on day 1

Anantam Highways Trust IPO News

Anantam Highways Trust, the infrastructure investment trust (InvIT), has attracted 41 percent subscription for its initial public offering (IPO) on October 7, the first day of bidding, thanks to the participation of qualified institutional buyers as well as other investors.

The Alternatives Fund Advisors-sponsored InvIT, which invests in road projects, is raising Rs 400 crore through maiden public issue at a price band of Rs 98-100 per unit.

Investors have bid for 91.8 lakh units on Tuesday against the offer size of 2.24 crore units. The portions set aside for qualified institutional buyers and other investors were subscribed 40 percent and 0.41 percent, respectively.

The 4-crore units IPO will remain open till October 9. The infrastructure trust will finalise IPO share allotment by October 14, while the trading in InvIT units will commence on the bourses effective October 17.

On October 6, the Trust has already raised Rs 180 crore by issuing 1.8 crore units to 11 anchor investors including WhiteOak Mutual Fund, Minerva Ventures Fund, SBI Capital Markets, Edelweiss Life Insurance, Universal Sompo General Insurance, and Star Union Dai-ichi Life Insurance at the upper price band.

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Of the total offer size, it will infuse Rs 376 crore into road projects SPVs (special purpose vehicles) - DHHL, RHL, BHHL, MBHL and NPHL, by way of loans for repayment of their debt, and the remainder amount will be used for general purposes.

The Trust has reserved 75 percent of the offer size for qualified institutional buyers, and the remaining 25 percent units for other investors.

Anantam Highways Trust, which was set up by the sponsor in July 2024, holds seven project SPVs of 271.65 kms across five states and one union territory in India.

The Trust has recorded profit of Rs 410.6 crore in the year ended March 2025, against loss of Rs 160 crore in previous year. Revenue from operations stood at Rs 926.5 crore in FY25, against Rs 2,525.7 crore in previous fiscal.

Nuvama WealthManagement is acting as the book running lead manager for the Anantam Highways Trust IPO.