The Anantam Highways Trust IPO opens today, October 7, and will close on October 9. The company has set a price band of Rs 98–100 per unit. Through this public offering, the trust aims to raise Rs 400 crore through a completely fresh issue of 4 crore units.
Here’s everything you should know before you subscribe.
Anantam Highways Trust IPO: Fresh issue of Rs 400 crore
Anantam Highways Trust is coming to the market with a fully fresh issue. Each unit is priced between Rs 98-100, targeting total proceeds of Rs 400 crore.
The IPO is managed by Nuvama Wealth Management, while Kfin Technologies is handling the registrar duties.
The funds raised through this issue will largely go towards strengthening the trust’s portfolio and managing debts of its underlying highway projects.
Anantam Highways Trust IPO: Anchor investors
Ahead of the public subscription, the trust raised nearly Rs 180 crore through its anchor book on October 6.
A total of 11 anchor investors participated, with WhiteOak Capital Mutual Fund buying 30 lakh units (Rs 30 crore) and Minerva Ventures Fund and Trust Investment Advisors acquiring around 25 lakh units each.
Apart from this, other investors included SBI Capital Markets, Edelweiss Life Insurance, Reliance General Insurance, Star Union Dai-Ichi Life Insurance, and Universal Sompo General Insurance.
Anantam Highways Trust IPO: Allocation of proceeds of the issue
Noe out of the total funds raised, around Rs 376 crore will be used to provide loans to the project SPVs (Special Purpose Vehicles) for debt repayment.
Thereafter, the remaining amount will be used for general purposes of the trust.
Anantam Highways Trust IPO: Road portfolio across India
Anantam Highways Trust manages seven highway projects covering 271.65 km (1,086.60 lane km) across five states and one union territory. Its portfolio includes projects such as Dhrol–Bhadra Highways, Dodaballapur–Hoskote Highways, Repallewada Highways, Viluppuram Highways, Narenpur–Purnea Highways, Bangalore–Malur Highways, and Malur–Bangarpet Highways.
Anantam Highways Trust IPO: Allotment and listing
After the three-days bidding process, the allotment of shares is expected to be finalised on October 14.
Thereafter, the units are likely to list on NSE and BSE on October 17.
About Anantam Highways Trust
The company was established by Alpha Alternatives Fund Advisors LLP. On August 19, 2024, Anantam Highways Trust was registered with SEBI as an InvIT.
The sponsor, Alpha Alternatives, is a multi-strategy investment company. It has a presence across infrastructure, real estate, equities, commodities, credit, and fixed income.