Anantam Highways Trust seeks nod for ₹1893.72 cr road asset acquisition
Anantam Highways Trust has initiated a postal ballot to seek unitholder approval for acquiring seven road assets for ₹1893.72 crore under ROFO agreements. The acquisition involves related party transactions and will be funded by issuing 16,48,03,867 units at ₹104.76 per unit. The assets include projects across six states under the Bharatmala Pariyojana.
*this image is generated using AI for illustrative purposes only.
Anantam Highways Trust has initiated a postal ballot process to seek unitholder approval for the acquisition of seven road assets under Right of First Offer (ROFO) agreements for an aggregate consideration of up to ₹1893.72 crore. The Investment Manager, Alpha Alternatives Fund-Infra Advisors Private Limited, approved the acquisition on July 3, 2026, to enhance revenue stability and achieve geographical diversification. The Trust will fund the purchase through the preferential issuance of up to 16,48,03,867 units at ₹104.76 per unit for a consideration other than cash aggregating up to ₹1726.49 crore.
Acquisition Details
The Trust will acquire 100% of Bethamangala Expressway Private Limited, DAK Package-I Expressway Private Limited, and Katra Expressway Private Limited. It will also purchase 100% of Poondiyankuppam Highways Limited, Bangarupalem Gudipala Highways Limited, and Raipur-Visakhapatnam-CG-2 Highways Limited, along with 49% of Mehgama Hansdiha Highways Limited. The acquisitions are related party transactions, with sponsor group entities holding significant stakes in the targets. Approvals from the National Highway Authority of India (NHAI) and Competition Commission of India (CCI) have already been received.
| Target Entity | Enterprise Value (₹ In Crores) | Cost of Acquisition Upto (₹ In Crores) |
|---|---|---|
| Bethamangala Expressway Private Limited | 555.20 | 248.05 |
| DAK Package -I Expressway Private Limited | 737.70 | 276.34 |
| Katra Expressway Private Limited | 678.40 | 304.81 |
| Raipur-Visakhapatnam-CG-2 Highways Limited | 736.90 | 201.42 |
| Bangarupalem Gudipala Highways Limited | 674.00 | 379.75 |
| Mehgama Hansdiha Highways Limited | 562.60 | 157.73 |
| Poondiyankuppam Highways Limited | 838.20 | 325.62 |
| Total | 4783.00 | 1893.72 |
Preferential Issue and Unitholder Approval
The Board approved the issuance of units to fund the acquisition of approximately 75.01% of the securities of Poondiyankuppam Highways Limited and 100% of the securities of the other specified targets. The Trust will convene a postal ballot to seek unitholder approval for the acquisitions and the preferential issuance. The remaining securities will be acquired for cash or other consideration as determined by the Board.
Asset Profile
The ROFO assets comprise road projects awarded by NHAI across Karnataka, Haryana, Tamil Nadu, Andhra Pradesh, Chhattisgarh, and Jharkhand. The projects include four-lane and six-lane expressways under the Bharatmala Pariyojana, with concession periods ranging from 13 to 15 years. The acquisition is expected to increase the weighted average life of the Trust's assets and ensure long-term operational continuity.
Historical Stock Returns for Anantam Highways Trust
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.44% | +0.61% | -0.50% | +1.48% | -0.39% | -0.39% |
How will the issuance of 16.48 crore units impact the earnings per unit and distribution yield for existing unitholders?
What is the expected timeline for integrating these seven geographically dispersed assets into the Trust's existing portfolio?
Will the Trust need to raise additional debt capital to fund the remaining acquisition costs not covered by the preferential issue?
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