Anantam Highways Trust IPO Opens Today: ₹400 Crore Issue with ₹180 Crore Anchor Book

Mumbai, Oct 7, 2025: Anantam Highways Trust (Series IV) opened its initial public offer (IPO) today, comprising [4,08,16,200 units] aggregating up to ₹400 crore, including an anchor book of 1,79,99,850 units for large domestic institutional investors at ₹100 per unit.

The issue, managed by Alpha Alternatives Fund-Infra Advisors Pvt. Ltd., will remain open for subscription until October 9, 2025. The issue’s price band remains fixed at ₹98-₹100 per unit.

Anantam Highways Trust, established in 2024 by Alpha Alternatives Fund Advisors LLP and registered with SEBI, is an Indian infrastructure investment trust (InvIT) focused on road projects. Its portfolio includes seven highways covering 271.65 km across five states and one union territory, managed by a multi-strategy asset management sponsor.

Anantam Highways Trust IPO Anchor Allocation Information

The InvIT Committee successfully completed the allocation of units to anchor investors ahead of the public issue. On 6 October 2025, a total of 1,79,99,850 units were allotted through the anchor book, raising ₹179.99 crore. The participation of 13 prominent institutional investors reflects strong confidence in the trust’s growth potential.

Among the anchor subscribers, notable names included WhiteOak Capital, SBI Capital Markets, Minerva Ventures Fund, and Edelweiss Life Insurance, alongside several other institutional players. WhiteOak Capital emerged as a major contributor, subscribing through its Multi Asset Allocation Fund (₹19.99 crore), Flexi Cap Fund (₹6 crore), and Multi Cap Fund (₹4 crore). Both Minerva Ventures Fund and Trust Investment Managers individually subscribed for ₹24.99 crore, representing 13.89% of the anchor placement.

Other significant anchor subscriptions included SBI Capital Markets (Short Term) with ₹19.99 crore and Athena Enhanced Equity Fund-Core with ₹15.99 crore. Life insurers such as Edelweiss Life Insurance, Reliance General Insurance, Star Union Dai-ichi Life Insurance, and Zuno General Insurance also participated, alongside investment funds like Nuvama Multi Asset Strategy Return Fund and Universal Sompo General Insurance.

Overall, the anchor book demonstrated strong institutional demand, being well-diversified across mutual funds, insurance companies, and investment funds, setting a positive tone ahead of the InvIT’s public issue.

Anantam Highways Trust IPO Overview

The Series IV InvIT issue of Anantam Highways Trust has officially opened for subscription, aiming to raise up to ₹400 crore through the issuance of 4,08,16,200 units. The issue price has been set between ₹98 and ₹100 per unit.

Ahead of the public offering, the InvIT successfully completed its anchor book allocation, raising ₹179.99 crore by allotting 1,79,99,850 units to 13 marquee institutional investors, including WhiteOak Capital, SBI Capital Markets, Minerva Ventures Fund, and Edelweiss Life Insurance.

The public subscription will commence on 7 October 2025 and conclude on 9 October 2025. Following the issue, the units are scheduled to be listed on both the NSE and BSE, providing investors with a chance to participate in India’s growing infrastructure investment trust (InvIT) segment.

Anantam Highways Trust IPO Use of Proceeds

The proceeds will be deployed toward:

• Financing highway concession projects through annuity and Tot models.
• Payment of debt and other trust purposes.
• Working capital and maintenance reserves for operational assets.

Industry Context

InvITs, such as Anantam Highways Trust, are set to continue drawing institutional capital as India accelerates its infrastructure development under the National Infrastructure Pipeline (NIP). With annuity-linked returns and stable cash flows, the issue is set to meet favour among yield-seeking investors.

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