The 4-crore units IPO for Anantam Highways Trust will be available till October 9. By October 14, the infrastructure trust will complete the allocation of IPO shares, and on October 17, trading in InvIT units will start on the exchanges.
InvIT IPO Sees 41% Subscription
Thanks to the involvement of eligible institutional purchasers and other investors, Anantam Highways Trust, the infrastructure investment trust (InvIT), received a 41 percent subscription for its initial public offering (IPO) on October 7, the first day of bidding.
With a price range of Rs 98 to Rs 100 per unit, the Alternatives Fund Advisors-sponsored InvIT, which makes investments in road projects, is generating Rs 400 crore via its first public offering.
Against the offer size of 2.24 crore units, investors placed bids for 91.8 lakh shares on Tuesday. Subscriptions for the portions reserved for eligible institutional buyers and other investors were 40 percent and 0.41 percent, respectively.
InvIT IPO Allocation Timeline
The IPO for four crore units will be offered till October 9. By October 14, the infrastructure trust will complete the allocation of IPO shares, and on October 17, trading in InvIT units will start on the exchanges.
As of October 6, the Trust has already mobilized ₹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 end of the price band.
In order to pay off their debt, the road projects SPVs (special purpose vehicles) — DHHL, RHL, BHHL, MBHL, and NPHL — would get loans totaling Rs 376 crore of the offer size. The remaining sum will be utilized for general reasons.
Strong Financial Turnaround for InvIT
The Trust has set aside 25% of the offer size for other investors and 75% of the offer size for eligible institutional buyers.
The sponsor established the Anantam Highways Trust in July 2024, and it now owns seven project SPVs totaling 271.65 km from five Indian states and one union territory.
In the fiscal year that concluded in March 2025, the Trust reported a profit of Rs 410.6 crore, compared to a loss of Rs 160 crore the year before. In FY25, operating revenue was Rs 926.5 crore, up from Rs 2,525.7 crore in the prior fiscal year.
For the Anantam Highways Trust IPO, Nuvama Wealth Management is serving as the book running lead manager.