For investors, it can be quite challenging to decide if the Anantam Highways InvIT is a good investment or not. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we present the top key factors and a detailed review of the Anantam Highways InvIT IPO. This will help you analyze the strengths, risks, and financial details of the Anantam Highways InvIT IPO, making your investment decision better.
About Company
Anantam Highways Trust is one of the leading Indian infrastructure investment trusts that plans to invest in road projects. Alpha Alternatives Fund Advisors LLP is the sponsor of the trust by setting it up on July 24, 2024. It was registered with SEBI as an InvIT on August 19, 2024.
The Sponser, Alpha Alternatives Fund Advisors LLP, is a multi-asset and multi-strategy asset management company engaged in offering investment solutions spanning areas such as infrastructure, credit, real estate, equities, commodities, and fixed income.
The company’s portfolio consists of 7 national highway projects, including Dhrol Bhadra Highways (DBHL), Dodaballapur Hoskote Highways (DHHL), Repallewada Highways (RHL), Viluppuram Highways (VHL), Narenpur Purnea Highways (NPHL), Bangalore Malur Highways (BMHL), and Malur Bangarpet Highways (MBHL), situated in the states of Karnataka, Telangana, Gujarat, Bihar, and Tamil Nadu, covering a total length of 271.65 km (1,086.60 lane km).
Strengths
- An attractive industry with strong growth potential and supportive government policies.
- Supported by the Project Manager and the Investment Manager, as well as strong backing from the Sponsor, Dilip Buildcon Limited.
- An experienced management team with several years of experience in the infrastructure sector.
- Strong operations and maintenance (O&M) support with a well-structured O&M framework.
Weaknesses
- This is a newly established trust that has no track record, making it hard to predict the future growth prospects.
- The trust’s business, financial performance, and its current and future projects mainly rely on government policies and its relationship with authorities in India. Any issue that occurs in the government policies can badly affect the business.
- Unable to obtain or find new infrastructure assets that offer the same revenue, profit, or cash flow as before can badly impact the business and finances.
- The maintenance and operation costs of the projects may go up because of factors that are out of their control.
Anantam Highways InvIT IPO Review
| Reviewer | Recommendation |
| IPO Watch | May Apply |
| Canara Bank | |
| DRChoksey FinServ | |
| Emkay Global | |
| Hem Securities | |
| IDBI Capital | |
| Marwadi Shares | |
| Nirmal Bang | |
| SBICAP Securities | |
| Sharekhan | |
| SMC Global | |
| Sushil Finance | |
| Swastika Investmart | |
| Ventura Securities | |
| Geojit | |
| Reliance Securities | |
| Capital Market | |
| BP Wealth | |
| ICICIdirect | |
| Choice Broking |
Anantam Highways InvIT IPO Details
| IPO Open Date: | October 7, 2025 |
| IPO Close Date: | October 9, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹98 to ₹100 Per Share |
| Issue Size: | ₹400 Crores |
| Fresh Issue | ₹400 Crores |
| Issue Type | Book Built Issue |
| Registrar | Kfin Technologies Ltd. |
| IPO Lead Managers | Nuvama Wealth Management Ltd. |
| Basis of Allotment | October 14, 2025 |
| IPO Listing Date: | October 17, 2025 |
| Listing | BSE, NSE |
Financial Performance Trend Details
| Particulars | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Total Income | ₹212.28 crores | ₹942.36 crores | ₹2,527.05 crores |
| Profit after Tax (PAT) | ₹67.86 crores | ₹410.62 crores | ₹-160.05 crores |
Peer Comparison with the Company
| Name of the Company | NAV (₹ per Share) | Premium / (Discount to NAV) |
| Capital Infra Trust (erstwhile National Infrastructure Trust) | ₹82.26 | (6.67)% |
| Indus Infra Trust (erstwhile Bharat Highways InvIT) | ₹115.81 | (3.63)% |
Object of the IPO
- The proceeds raised from the fresh issue will be used to provide loans to the Project SPVs to help them repay or prepay all or part of their outstanding debt, including any interest owed.
- Lastly, the remaining funds will be used for the company’s general corporate purposes.
Anantam Highways InvIT IPO – Should You Apply or Not?
Anantam Highways InvIt comes with an attractive infrastructure sector, strong sponsor support, stable cash flows, and a favorable O&M Structure for smooth project functioning. However, dependence on government policies, interest rate risks, and Regulatory Risk are key concerns.
Short-term investors may consider applying for the listing gains after evaluating market demand and Grey Market Premium (GMP). However, cautious investors must carefully analyze the company’s performance, its growth prospects before subscribing.
Please note:
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
