Anantam Highways Trust IPO Opens with 0.40x Subscription on Day 1; ₹180 Crore Anchor Book Secured

Mumbai, Oct 7, 2025 – Anantam Highways Trust IPO (Series IV) opened its ₹400 crore initial public offer (IPO) today, with a lukewarm response from the investors by afternoon, receiving 0.40x subscription. There was strong interest from institutional and corporate investors in the public issue.

The InvIT, managed by Alpha Alternatives Fund-Infra Advisors Pvt. Ltd., has offered 4,08,16,200 units at a price band of ₹98–₹100 per unit. The issue will close on October 9, 2025, with the listing proposed on both the BSE and NSE.

Anantam Highways Trust IPO Subscription Status as of October 7, 2025

The Qualified Institutional Buyers (QIB) category was subscribed to 0.41x, while the Non-Institutional Investors (NII) segment saw a slightly lower subscription at 0.38x. Out of 2.24 crore shares offered, investors bid for only 88.55 lakh shares. The subdued response indicates a cautious start from investors, with institutional interest only marginally higher than retail participation. Market observers expect momentum to pick up in subsequent days as institutional bids typically arrive later in the issue period.

Within the institutional category, mutual funds led the activity, bidding for 20.10 lakh units, followed by insurance firms and banks with 9.99 lakh units, and other financial institutions with 19.99 lakh units. Among non-institutional participants, individual investors and NRIs bid for 28.44 lakh units, while corporates subscribed for 10 lakh units, signaling early retail engagement.

Anantam Highways Trust IPO Anchor Allocation

Before the public opening, the company raised ₹179.99 crore from thirteen anchor investors and allocated 1,79,985 units at ₹ 100 each. Some of the marquee names in the anchor book include WhiteOak Capital, SBI Capital Markets, Edelweiss Life Insurance, Reliance General Insurance and Minerva Ventures Fund.

Anantam Highways Trust IPO Use of Proceeds

The company has stated that it will use the IPO proceeds for investment in highway concession projects under annuity and TOT models. Further, the amount will be used for debt repayment, general trust expenses, and operational and maintenance reserves for portfolio assets.

Anantam Highways Trust IPO Market Outlook

Infrastructure investment trusts (InvITs), such as Anantam Highways Trust, continue to gain traction among long-term investors, offering stable, yield-oriented exposure to India’s expanding highway network. With India’s infrastructure pipeline expected to exceed ₹111 lakh crore under NIP, experts anticipate growing participation from domestic institutions in similar InvIT issuances.

About the Company

Anantam Highways Trust is a registered Infrastructure Investment Trust (InvIT) managed by Alpha Alternatives Fund-Infra Advisors Pvt. Ltd., focusing on the development, operation, and monetization of national and state highway assets. Its prior series have maintained consistent distribution yields and performance aligned with projections.

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