214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

Anantam Highways InvIT Trust IPO Review

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Anantam Highways IPO Date
  • IPO Open Date:
    7 Oct 2025
  • IPO Close Date:
    9 Oct 2025
  • IPO Allotment Date:
    14 Oct 2025
  • Tentative Refund Date:
    16 Oct 2025
  • IPO Listing:
    17 Oct 2025
Check Anantam Highways IPO GMP

Anantam Highways IPO Overview

Sector Update

Anantam Highways Trust is operating in the Infrastructure Sector is an Indian infrastructure investment trust that invest in road infrastructure assets. Overall road sector capex, comprising of National Highways, State Highways & rural roads, is estimated to have grown at a CAGR of 14% between fiscals 2018 & 2023.

Growth drivers

Anantam Highways Trust's strong automobile demand, rising government investment of ₹2.87 lakh crore in roads, and policy support through NaBFID are key growth drivers for India’s road infrastructure sector.

Financial Update:
(comparison of FY25 FY25 )
Revenue ₹926.50 cr ₹202.03 cr (-78.19%)
PAT ₹410.62 cr ₹67.86 cr (-83.47%)
PAT Margin 44.32 % 33.59 % (-24.21%)
EBITDA ₹702.31 cr ₹168.68 cr (-75.98%)
EBITDA Margin 75.80 % 83.49 % (+10.15%)
ROE 99.28 % 14.09 % (-85.81%)
ROCE [●] % [●] %
D/E 8.70 7.40 (-14.94%)
Business Diversification

The Trust plans to expand by acquiring additional road infrastructure assets through selective evaluation of projects with strategic locations, long asset life, and stable returns. The strategy also includes maintaining an optimal capital structure by diversifying funding sources and raising equity or debt to support future acquisitions and portfolio growth

 

IPO Valuation

PE Ratio: [●] Average Sector PE Ratio: 17.00x

Anantam Highways IPO Reservation

Anantam Highways IPO Share Allocation
Anantam Highways IPO Lot Size
Application Lot Shares Amount

Interesting facts about IPO

IPO Size: ₹ 400.00 Cr.

Avg IPO Size (Sector Based):

₹ 814.11 cr.


SME IPO so far in this sector:

48

Merchant Banker: Nuvama Wealth

SME IPO by BRLM so far:

27


SME IPO so far in this city:

207

PE Ratio:

Average Sector PE Ratio:

17.00 X

Price Band (Upper): ₹ 100.00

Listing Price:

₹ [●]

Business Profile

Anantam Highways Trust (“the Trust”) is an Indian infrastructure investment trust established to invest in road infrastructure assets. The Trust was set up by its sponsor, Alpha Alternatives Fund Advisors LLP, on July 24, 2024, and was registered with SEBI as an InvIT on August 19, 2024, under the InvIT Regulations.

The Sponsor is a multi-asset, multi-strategy asset management entity that creates investment solutions across diverse asset classes, including infrastructure, credit, real estate, equities, commodities, and fixed income. As of now, the Sponsor operates as a subsidiary of Alpha Alternatives Holdings Private Limited.

The Trust’s initial portfolio comprises seven Project SPVs, aggregating 271.65 km (1,086.60 lane km) across five states and one union territory in India. Subject to approvals, the Trust will hold 100% equity in these SPVs and monetize only annuity payments due and payable.

Strengths and Challenges as per DRHP

Strengths Image
  • Favourable policy & sector outlook
  • Low-risk HAM model
  • ROFO asset pipeline
  • Strong O&M by DBL
Strengths Image
WEAKNESSES Image
  • High debt reliance
  • Limited project diversification
  • Regulatory and cash flow risks
  • Dependence on DBL
Strengths Image
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Comparison of Anantam Highways IPO with some Listed peers/Listing Gains in the Similar sector

Select Listed IPO for Comparison:
Basis
Anantam Highways IPO
vs
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IPO Date
17th Oct 2025


IPO Size
₹ 400.00 Cr.

Total Assets
₹ 4,241.88 Cr.

Revenue
₹ 808.12 Cr.

PAT
₹ 271.44 Cr.

PAT Margin
33.59 %

Leverage Ratio
7.40 x

PE Multiple
[●] x

EV/EBITDA
5.22 x

Notes:
1) All the above data is at the time of IPO
2) Revenue and Pat is taken on annualised basis

Anantam Highways IPO Objectives (Objects of Offer) and expected Utilisation

General purposes
[●]

Track Record of (Merchant Banker)/merchant Banker Report

Nuvama Wealth Management Limited, based in Mumbai is the Lead Manager (BRLM) of Anantam Highways IPO. Nuvama Wealth Management Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of Nuvama Wealth Management Limited .

Read more details of this IPO

Peer Companies Of This Sector

FAQs

Anantam Highways InvIT Trust IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on Anantam Highways InvIT Trust Financial Review Page

Anantam Highways InvIT Trust IPO subscription was X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Anantam Highways InvIT Trust IPO listed at a listing price of against the offer price of 100.00.

The current market price of Anantam Highways InvIT Trust is .

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