Anantam Highways Trust mops up Rs 180 crore via anchor book, InvIT IPO to hit Dalal Street on October 7

Anantam Highways Trust IPO News

Anantam Highways Trust, the infrastructure investment trust investing in road infrastructure assets, has raised nearly Rs 180 crore via anchor book on October 6, a day prior to its IPO launch for the public subscription.

The Alpha Alternatives Fund Advisors-sponsored InvIT targets to mobilise Rs 400 crore through issuance of units. The IPO will open for public subscription during October 7 and 9.

The InvIT Committee of the Investment Manager on Monday has finalised allocation of 1,79,99,850 units to 11 anchor investors at Rs 100 per unit.

WhiteOak Capital Mutual Fund is the largest investor amongst them, buying 30 lakh units worth Rs 30 crore, while Minerva Ventures Fund, and Trust Investment Advisors acquired each nearly 25 lakh units worth Rs 25 crore.

Other investors participated in the anchor book included SBI Capital Markets, Edelweiss Life Insurance Company, Reliance General Insurance, Nuvama, Star Union Dai-Ichi Life Insurance, and Universal Sompo General Insurance.

Anantam Highways Trust will have an initial portfolio of the seven-road project SPVs of 271.65 kms in five states and one union territory in India.

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The IPO funds up to Rs 376 crore of total proceeds will be utilised mainly for providing loans to the project SPVs for repayment of their debt, and the remaining amount for general purposes.

Anantam Highways Trust will finalise the IPO units allotment by October 14, while the units will be listed on the National Stock Exchange of India and BSE on October 17.

Nuvama WealthManagement is acting as the merchant banker for handling the Anantam Highways Trust IPO.