Anantam Highways IPO Details

Introduction

Anantam Highways Trust, established in July 2024 and headquartered in Mumbai, has entered India’s booming infrastructure investment trust (InvIT) space. Backed by the financial expertise of Alpha Alternatives—a multi-strategy asset manager—the trust offers investors exposure to a diversified portfolio of operational national highways totaling 271.65 km (over 1,000 lane km) across five states and one union territory. The company’s IPO, open from October 7–9, 2025, marks a significant step toward democratizing investment in India’s resilient roads and highway assets.

IPO Highlights

• Issue Size: ₹400 crore (100% fresh issue, 4 crore InvIT units)
• Price Band: ₹98–₹100 per unit
• Minimum Investment: 150 units per lot (₹15,000 at upper band)
• Subscription Dates: October 7–9, 2025
• Allotment: October 14 | Listing: October 17, 2025 (NSE & BSE)
• Lead Manager: Nuvama Wealth Management
• Registrar: Kfin Technologies Ltd
• Use of Proceeds: Loans to project SPVs for debt repayment (₹376 cr), general corporate purposes (₹24 cr).

Anantam Highways Trust Financial Information (Restated Consolidated)

Anantam Highways Trust's revenue decreased by 63% and profit after tax (PAT) rose by 357% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended	30-Jun-25	31-Mar-25	31-Mar-24	31-Mar-23
Assets	4,241.89	4,151.92	3,530.23	2,425.48
Total Income	212.28	942.36	2,527.05	2,591.87
Profit After Tax	67.86	410.62	-160.05	-178.48

Objects of the Issue (Anantam Highways InvIT IPO Objectives)

The Company Anantam Highways InvIT proposes to utilise the Net Proceeds from the Issue towards the following objects:

S.No.	Objects of the Issue	Expected Amount (₹ in crores)
1	Providing loans to the Project SPVs for repayment or pre-payment of debt, in part of in full, including any accrued interest, of their respective outstanding borrowings; and	376
2	General purposes

Business & Portfolio

Anantam Highways operates as an infrastructure investment trust holding revenue-generating road assets. Its initial portfolio covers seven completed highway projects:

• Dhrol Bhadra Highways (Gujarat)
• Dodaballapur Hoskote Highways (Karnataka)
• Repallewada Highways (Telangana)
• Viluppuram Highways (Tamil Nadu)
• Narenpur Purnea Highways (Bihar)
• Bangalore Malur Highways (Karnataka)
• Malur Bangarpet Highways (Karnataka)
  These projects are backed by long-term concession agreements with NHAI, ensuring steady annuity revenues and operational cash flows, and have average residual concession terms of 12–13 years.

The trust employs Dilip Buildcon—the original builder of these highways—as the operations and maintenance (O&M) contractor, providing continuity and experienced project management.

Strengths

• Diversified Portfolio: Projects spread geographically with different concession dates reduce regional and operational risk.
• Visible Revenue Streams: Backed by NHAI contracts and annuity income, less reliant on toll volatility.
• Strong Sponsor: Backing from Alpha Alternatives, a proven asset manager with sector depth.
• Stable Cash Flows: Projects are already operational and generating income, supporting predictable distributions.

Risks & Challenges

• Newly Formed Entity: Limited track record; future performance will need close monitoring.
• Regulatory Dependence: Subject to SEBI, NHAI, and other statutory approvals for future asset additions and ongoing compliance.
• Single-Sector Exposure: All projects are highways; diversification into other infra assets is yet to be seen.
• Government Payments: Delays in NHAI annuity can affect cash flows.
• Structural Risks: Any downgrade in sponsor profile can raise funding costs.

How To Apply for the Online?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

Final Thoughts :-

Anantam Highways brings passive infrastructure investing to the mainstream. For those seeking predictable yields, transparency, and exposure to India’s government-backed road assets, this InvIT IPO could be a strategic portfolio addition.

FAQs :-

Q1: What is the Anantam Highways InvIT IPO date and lot size?
Ans :- October 7–9, 2025; minimum 150 units per lot (₹15,000 at upper band).

Q2: Where are Anantam’s assets located?
Ans :- Seven highway SPVs across Gujarat, Karnataka, Telangana, Tamil Nadu, and Bihar, plus one union territory.

Q3: How will proceeds be used?
Ans :- Mainly for repaying debt of underlying projects, improving cash flow and distribution stability.

Q4: What is an InvIT?
Ans :- An Infrastructure Investment Trust pools investor money for infra assets, offering regular distributions and liquidity via stock exchanges.

Q5: How is Dilip Buildcon involved?
Ans :- DBL is the project sponsor, original developer, and provides O&M services—crucial for asset stability.