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2h ago

Anantam Highways Trust IPO Sees 41% Subscription on Day One

Most of the fresh issue will refinance debt at the trust’s seven highway SPVs.

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Overview

  • The offer received bids for 9,180,900 units against 22,449,000 on offer on October 7, according to NSE data.
  • The Rs 400 crore InvIT is a fully fresh issue of 4 crore units priced at Rs 98–100, open for subscription from October 7 to 9.
  • About Rs 376 crore of the proceeds is earmarked as loans to project SPVs for debt repayment, with the remainder for general purposes.
  • An anchor placement on October 6 raised about Rs 180 crore from 11 institutions, including WhiteOak Capital Mutual Fund, Minerva Ventures Fund and Trust Investment Advisors.
  • The portfolio comprises seven highway projects totaling 271.65 km across five states and one union territory; allotment is expected on October 14 with a likely NSE/BSE listing on October 17, and Nuvama and Kfin serving as bookrunner and registrar.