Anantam Highways Trust IPO Skyrockets with Over Five Times Subscription
Anantam Highways Trust's IPO, focused on road assets in India, was subscribed 5.62 times on the final day, with bids for over 12 million units against 2.2 million offered. The Rs 400-crore IPO saw significant interest from both institutional and other investors, propelling its success.
- Country:
- India
The initial public offering of Anantam Highways Trust, an infrastructure investment trust specializing in road assets in India, dramatically exceeded expectations with a subscription rate of 5.62 times the available units as per the final bidding day statistics on Thursday.
The IPO generated substantial interest, with bids reaching over 12.6 million units compared to the 2.24 million units offered. Institutional investors showed considerable enthusiasm, subscribing at 2.86 times their available allocation, while other investor categories, including corporate and individual investors, recorded an 8.93 times oversubscription.
The funds raised from the Rs 400 crore issue, priced between Rs 98-100 per unit, are slated for infrastructure funding, debt reduction, and general corporate uses. Nuvama Wealth Management Ltd is handling the IPO as the sole book-running lead manager.
(With inputs from agencies.)
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