Anantam Highways Trust is a newly established Infrastructure Investment Trust (InvIT) focused on monetizing a portfolio of high-quality Indian road assets. Sponsored by Alpha Alternatives Fund Advisors LLP, a multi-strategy asset management entity, the Trust offers investors exposure to stable, long-term infrastructure cash flows.

The Trust’s initial portfolio consists of seven national highway projects totaling 271.65 km (1,086.60 lane km), strategically located across five states and one union territory. Critically, all projects operate under the Hybrid Annuity Model (HAM) with the National Highways Authority of India (NHAI) as the counterparty. This structure eliminates traffic volume risk, as the Trust will monetize assured annuity payments from NHAI. This predictable revenue stream, coupled with built-in inflation linkage for interest and operations & maintenance (O&M) payments, makes the Trust an attractive investment vehicle for stable, yield-generating exposure to India’s expanding road infrastructure sector.

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• Sponsor and Management Quality: Strong Sponsor support and an experienced Investment Manager ensure robust corporate governance and lineage.
• Asset Stability and Low Risk: Assets provide consistent, long-term cash flows from NHAI annuity payments, resulting in low counterparty risk.
• Favorable Regulatory Backing: The Trust benefits from strong government support and a stable, established regulatory framework for InvITs.
• Operational Efficiency: A strong financial position and a skilled O&M Contractor maintain high operational efficiency and asset quality.

The Company ANANTAM HIGHWAYS TRUST INVIT LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Providing loans to the Project SPVs for repayment or pre-payment of debt, in part of in full, including any accrued interest, of their respective outstanding borrowings (₹ 376 Cr.)
• General Purposes

At the upper band of IPO ₹100, the stock looks reasonably priced. Hence, well-informed investors subscribe for medium to long term perspective.