The Anantam Highways InvIT IPO is set to open on 7 October 2025 and will close on 9 October 2025. Since many investors prefer stable, yield-oriented instruments, this InvIT issue has already generated strong interest in the market. The price band is fixed between ₹98 and ₹100 per unit.
The allotment will be declared on 14 October, and the units will be listed on the NSE and BSE on 17 October 2025. If you want a quick and simple breakdown of whether you should apply, here is everything you need to know.
Contents
Anantam Highways InvIT IPO Key Highlights
The InvIT aims to raise around ₹400 crores through a book-built issue, consisting entirely of a fresh issue of units. There is no pure retail quota, as the allocation is divided between QIBs and NIIs.
Anantam Highways InvIT IPO
Open: 7-9 Oct 2025
Issue Size: ₹400 Cr.
Objective: Mainly to clear the old bank loans of the road projects (SPVs).
Exchange: BSE and NSE
Important IPO Dates
| Event | Date / Status |
|---|---|
| IPO Open Date | 7 October 2025 |
| IPO Close Date | 9 October 2025 |
| Basis of Allotment | 14 October 2025 |
| Refunds | 16 October 2025 |
| Credit to Demat | 16 October 2025 |
| Listing Date | 17 October 2025 |
| IPO Bidding Cut-off Time | 9 October 2025 – 5 PM |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
These dates help investors plan their bidding and track allotment status smoothly.
Also Read:
IPO Details at a Glance
| Particulars | Details |
|---|---|
| Issue Type | Book Built Issue |
| Face Value | ₹10 per unit |
| Price Band | ₹98 to ₹100 |
| Issue Size | Approx ₹400 crores |
| Fresh Issue | Approx ₹400 crores |
| Offer for Sale | Not applicable |
| Listing | BSE and NSE |
This table gives a simple summary of the core issue structure for quick reference.
Anantam Highways InvIT Market Lot
| Application Type | Lot Size | Units | Amount |
|---|---|---|---|
| Minimum Lot | 1 | 150 | ₹15,000 |
Retail investors are not allocated a separate quota in this InvIT. However, the minimum application size is clearly defined.
You need to apply for at least 150 units, which amounts to ₹15,000 at the upper price band.
Reservation Breakdown
| Investor Category | Share Offered | Percentage |
|---|---|---|
| Anchor | To be updated | – |
| QIB | To be updated | 75% |
| NII | To be updated | 25% |
| Retail | Not applicable | 0% |
This structure indicates that the InvIT is targeted mainly at institutional and high-net-worth investors.
Objects of the Issue
| Purpose | Amount (₹ crores) |
|---|---|
| Providing loans to SPVs for repayment or pre-payment of existing borrowings | 376.00 |
| General Corporate Purposes | Not specified |
The major objective is debt reduction at SPV levels, which typically improves cash flows and strengthens the financial stability of an InvIT.
About Anantam Highways InvIT
Anantam Highways Trust is an infrastructure investment trust that focuses primarily on national highway assets. The sponsor, Alpha Alternatives Fund Advisors LLP, is a multi-asset asset management firm operating across infrastructure, credit, real estate, equities, commodities, and fixed income.
The InvIT currently holds seven national highway projects spread across Karnataka, Telangana, Gujarat, Bihar, and Tamil Nadu. These projects cover a total road length of 271.65 km (1,086.60 lane km).
The portfolio includes:
Dhrol Bhadra Highways (DBHL)
Dodaballapur Hoskote Highways (DHHL)
Repallewada Highways (RHL)
Viluppuram Highways (VHL)
Narenpur Purnea Highways (NPHL)
Bangalore Malur Highways (BMHL)
Malur Bangarpet Highways (MBHL)
This provides geographic diversification and stable toll-based revenue potential.
Anantam Highways InvIT Financial Performance
| Period Ended | Revenue (₹ cr) | Expense (₹ cr) | PAT (₹ cr) | Assets (₹ cr) |
|---|---|---|---|---|
| 2023 | 2,591.87 | 2,764.34 | 178.48 | 2,425.48 |
| 2024 | 2,527.05 | 2,646.74 | 160.05 | 3,530.23 |
| 2025 | 942.36 | 546.94 | 410.62 | 4,151.92 |
| June 2025 | 212.28 | 112.84 | 67.86 | 4,241.89 |
Despite a significant drop in revenue in FY25, the InvIT has posted a strong profit of ₹410.62 crores due to substantial improvement in operating efficiency and lower expenses.
Valuation Metrics (FY 2025)
| KPI | Value |
|---|---|
| ROE | Not available |
| ROCE | Not available |
| EBITDA Margin | Not available |
| PAT Margin | Not available |
| Debt-to-Equity Ratio | Not provided |
| EPS | Not available |
| P/E Ratio | Not available |
| RoNW | Not available |
| NAV | Not provided |
Since many InvIT valuation metrics are updated post-listing, most ratios are currently unavailable.
Peer Comparison
| Company | EPS | PE | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Capital Infra Trust | – | – | – | – | – |
| Indus Infra Trust | – | – | – | – | – |
InvITs generally compete on yield, portfolio stability, and sponsor credibility rather than traditional EPS or PE ratios.
Lead Manager
Nuvama Wealth Management Limited is the sole lead manager for this IPO.
Company Contact Details
Anantam Highways Trust InvIT
33rd Floor, Sunshine Tower, Senapati Bapat Marg,
Dadar West, Mumbai, Maharashtra 400013
Phone: +022 6145 8900
Email: anantam.cs@alt-alpha.com
Website: anantamhighways.com
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: anantam.invitipo@kfintech.com
Website: ipostatus.kfintech.com
FAQs
What is Anantam Highways InvIT IPO?
It is a mainboard InvIT IPO worth ₹400 crores, priced between ₹98 and ₹100, and will list on BSE and NSE.
When does the IPO open?
It opens on 7 October 2025 and closes on 9 October 2025.
What is the investor allocation?
QIBs get 75 per cent, NIIs get 25 per cent, and there is no retail quota.
How to apply?
You can apply via ASBA using your bank account or UPI-enabled stockbroker platforms.
What is the lot size?
The minimum lot is 150 units costing ₹15,000.
What is the allotment date?
14 October 2025.
What is the listing date?
17 October 2025 on BSE and NSE.
Expert Comment
Anantam Highways InvIT offers a diversified road portfolio backed by an experienced sponsor. The strong turnaround in FY25 profits, despite lower revenue, indicates better operating efficiency and healthier project cash flows.
The large portion of IPO proceeds going towards debt repayment may support future yield stability. Investors with a long-term horizon and interest in infrastructure-linked cash flows can consider applying after reviewing overall InvIT yields, sponsor strength, and prevailing market conditions.
