All You Need to Know About Anantam Highways Trust InvIT IPO
The Anantam Highways Trust InvIT IPO 2025 is an infrastructure investment trust (InvIT) targeting road and highway assets throughout India. It provides investors with a chance to invest in India’s growing infrastructure industry under a secure annuity-based investment framework.
Detailed IPO & InvIT Issue Information
| Item | Detail |
|---|---|
| Name / Type | Anantam Highways Trust (InvIT) — an Infrastructure Investment Trust concentrating on road and highway assets of India. |
| Sponsor | Alpha Alternatives Fund Advisors LLP |
| Issue / Units Offered | New issue of about 4.00 crore units (40,000,000 units) |
| Issue Size (Value) | ₹400 crore (₹400.00 Cr) |
| Price Band / Unit Price | ₹98 to ₹100 per unit |
| Lot Size / Minimum Units | 150 units per lot |
| Minimum Investment (Retail) | ₹15,000 (150 × ₹100) |
| Open / Close Dates | Opens: 07 October 2025 |
| Closes | 09 October 2025 |
| Allotment Date | 14 October 2025 |
| Refund / Credit to Demat | 16 October 2025 |
| Listing Date (Tentative) | 17 October 2025 |
| Utilization of Proceeds | Approx. ₹376 crore towards repayment or prepayment of SPV borrowings; balance for general corporate purposes. |
| Subscription / Demand | IPO subscribed 5.62× in total. QIB: 2.86× |
Business Highlights and Financial Performance
Revenue & Profit
- FY2025: Profit After Tax (PAT) ₹410.62 crore
- FY2024: Net loss of ₹160.05 crore
- Total Income FY2025: ₹942.36 crore
- Total Income FY2024: ₹2,527.05 crore
Assets & Projects
- Portfolio consists of 7 operating road/highway projects through Special Purpose Vehicles (SPVs).
- Total length of roads under management: 271.65 km, spread over six Indian states and a Union Territory.
- Supported by long-term concession agreements, providing stable, annuity-based cash flows.
Structure & Model
The Anantam Highways Trust is an InvIT (Infrastructure Investment Trust), enabling investors to receive income from operational road assets rather than holding company equity.
- As this is a new issue, proceeds flow directly to the trust for financing projects.
- Returns are likely to be from fixed annuity payments under government-backed concession contracts, and not variable toll revenues.
Investment Risks and Key Considerations
- Debt Exposure: High leverage in project SPVs can put a squeeze on cash flows.
- Regulatory Risks: Delay or alteration of concession terms can affect revenues.
- Sector Concentration: Total exposure is in the road infrastructure sector.
- Execution Risk: Reliance on the ability of the sponsor to manage and maintain assets across states.
- Interest Rate & Inflation Risk: Rising rates or inflation could reduce returns over time.
- Market Risk: Post-listing liquidity and valuation depend on market sentiment toward InvITs.
Long-Term Investment Outlook
The Anantam Highways Trust InvIT provides investors with stable returns supported by operational road assets and fixed annuity income. Its stable cash flow model can appeal to long-term investors looking for regular yields from infrastructure exposure.
Yet, as with all InvITs, there is dependence on macroeconomic conditions, interest rate cycles, and management efficiency. Retail investors must assess their risk appetite and investment horizon prior to subscribing.