India’s infrastructure investment sector has seen growing interest from retail and institutional investors. Anantam Highways Trust, an Indian infrastructure investment trust (InvIT), is opening its IPO on October 7, 2025, giving investors the opportunity to invest in a portfolio of revenue-generating highway projects.
About Anantam Highways Trust
Incorporated on July 24, 2024, and registered with SEBI as an InvIT on August 19, 2024, Anantam Highways Trust focuses on investments in road infrastructure across India. The Sponsor, Alpha Alternatives Fund Advisors LLP, is a multi-strategy asset management company and subsidiary of Alpha Alternatives Holdings Private Limited.
The Trust’s portfolio includes seven highway projects, totalling 271.65 km (1,086.60 lane km) across five Indian states and one union territory:
- Dhrol Bhadra Highways (DBHL)
- Dodaballapur Hoskote Highways (DHHL)
- Repallewada Highways (RHL)
- Viluppuram Highways (VHL)
- Narenpur Purnea Highways (NPHL)
- Bangalore Malur Highways (BMHL)
- Malur Bangarpet Highways (MBHL)
Business Strengths:
- Attractive industry sector with strong fundamentals and favorable government policies
- Portfolio of long-term, stable, revenue-generating assets
- Strong support from Sponsor, Dilip Buildcon Ltd. (Project Manager and Investment Manager)
- Growth opportunities with rights to expand asset portfolio
- Skilled and experienced management team
- Strong O&M support and favorable O&M structure
Anantam Highways InvIT IPO Details
Anantam Highways InvIT IPO is a book-building issue of ₹400 crore, entirely a fresh issue of 4 crore units, listed on BSE and NSE.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Oct 7, 2025 |
| IPO Close Date | Oct 9, 2025 |
| Tentative Allotment | Oct 14, 2025 |
| Initiation of Refunds | Oct 16, 2025 |
| Credit of Shares to Demat | Oct 16, 2025 |
| Tentative Listing Date | Oct 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Oct 9, 2025 |
Key IPO Details:
| Parameter | Details |
| Issue Price Band | ₹98 – ₹100 per unit |
| Sale Type | Fresh Capital |
| Total Issue Size | 4,00,00,000 units (₹400 Cr) |
| Issue Type | Bookbuilding InvIT |
| Listing At | BSE, NSE |
Investor Category Reservation:
| Category | Allocation |
| QIB | Not more than 75% of the Issue Size |
| NII | Not less than 25% of the Issue Size |
Lot Size:
Investors can bid for a minimum of 150 units or multiples thereof.
Anantam Highways InvIT: Financials
Financial Highlights (₹ Crore):
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| 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
The IPO proceeds are proposed to be utilised as follows:
| Object | Amount (₹ Crore) |
| Providing loans to Project SPVs for repayment or pre-payment of debt, including accrued interest | 376.00 |
| General corporate purposes | Balance |
Anantam Highways InvIT IPO: Peer Comparison
Anantam Highways InvIT IPO can be compared with peers like IRB InvIT Fund, India Grid Trust, KKR India Infrastructure Fund, HDFC Capital Affordable Real Estate Fund, and Brookfield India Real Estate Trust. Reviewing these investment trusts and InvITs helps investors gauge Anantam Highways’ position in the Indian infrastructure investment sector and make informed decisions.
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Conclusion
The Anantam Highways InvIT IPO offers investors a chance to participate in a portfolio of operational highways with stable revenue streams. Its strong sponsor support, experienced management team, and potential for portfolio expansion make it an attractive investment. Investors should, however, consider risks including sectoral exposure to toll revenue performance, regulatory approvals, and traffic variability.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
