About
Anantam Highways Trust, sponsored by Alpha Alternatives, is an InvIT investing in seven NHAI HAM road projects spanning 272 km across six Indian states. The Trust earns steady annuity revenues, reducing traffic-linked income risk, and focuses on long-term infrastructure monetization and growth.
IPO schedule
| Issue open date | 2025-10-07 |
|---|---|
| Issue close date | 2025-10-09 |
| UPI mandate deadline | 2025-10-09 (5 PM) |
| Allotment finalization | 2025-10-14 |
| Refund initiation | 2025-10-16 |
| Share credit | 2025-10-16 |
| Listing date | 2025-10-17 |
| Mandate end date | 2025-10-24 |
| Lock-in end date for anchor investors (50%) | 2025-11-13 |
| Lock-in end date for anchor investors (remaining) | 2026-01-12 |
Financials
| Financial Year Ended | March 2024 | March 2025 | June 2025 |
|---|---|---|---|
| Total Assets | 4241.89 | 4151.92 | 3530.23 |
| Revenue | 212.28 | 942.36 | 2527.05 |
| Profit After Tax | 67.86 | 410.62 | -160.05 |
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | ₹400 crores |
| Fresh | ₹400 crores |
Strengths
- Operates in India’s rapidly expanding road infrastructure sector backed by strong government support.
- Portfolio of seven operational road projects across six regions ensuring geographic diversification.
- Long-term, annuity-based model provides predictable cash flows and lower revenue risk.
- Strong sponsor (Alpha Alternatives) with expertise in infrastructure and asset management.
- Right of first offer (ROFO) agreements for future project acquisitions support steady growth.
Risks
- High dependence on government contracts and payments; delays can affect cash flow.
- Operational risks from single-sector exposure (roads) and project-level challenges.
- Subject to regulatory, concession, and environmental compliance requirements.
- Any downgrade in sponsor’s or SPVs’ credit profile may impact funding ability.
- Revenue limited to annuity inflows; no toll income diversification.
Allotment Status for Anantam Highways Trust InvIT
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