Anantam Highways Trust Seeks Unitholder Approval for Major Highway Asset Acquisitions and Preferential Unit Issuance

Anantam Highways Trust Seeks Unitholder Approval for Major Highway Asset Acquisitions and Preferential Unit Issuance​

Anantam Highways Trust has initiated a postal ballot process seeking unitholder approval for three key transactions: two distinct acquisitions of infrastructure assets through Right of First Offer (ROFO) agreements, and the preferential issuance of up to 16,48,03,867 units. These proposed actions are central to the Trust’s growth strategy and involve major related-party considerations.

The postal ballot notice was dispatched on July 03, 2026, with eligibility for voting set as of June 26, 2026. The remote e-voting period is scheduled to commence on Saturday, July 04, 2026 (09:00 A.M. IST) and conclude on Saturday, July 25, 2026 (05:00 P.M. IST).

Acquisitions of ROFO Assets​

The Trust is seeking approval for two major acquisitions of expressways, both being proceeds from related parties.

Acquisition of BIIF ROFO Assets​

The first resolution concerns the proposed acquisition of 100% of the securities and management control of the BIIF ROFO Assets from Build India Infrastructure Fund and its affiliates. These assets include Bethamangala Expressway Private Limited (BEPL), Dak Package I Expressway Private Limited (DPEPL), and Katra Expressway Private Limited (KEPL). The total consideration for this acquisition is set at up to ₹829.20 Crores, which falls within the Enterprise Value of the target assets, totaling ₹1971.30 Crores as per a valuation report prepared by an independent valuer.

The details of the BIIF ROFO Assets are summarized below:

Acquisition of DBL ROFO Assets​

The second resolution proposes the acquisition of 100% of the securities from Dilip Buildcon Limited and its affiliates, encompassing the DBL ROFO Assets. These assets include Poondiyankuppam Highways Limited (PHL), Bangarupalem Gudipala Highways Limited (BGHL), Raipur-Visakhapatnam-CG-2 Highways Limited (RVHL), and Mehgama Hansdiha Highways Limited (MHHL). The proposed total consideration for these acquisitions is up to ₹1064.52 Crores, compared against the aggregated Enterprise Value of ₹2811.70 Crores.

The structure of the DBL ROFO Assets acquisition involves different levels of participation from the sellers:

Preferential Issue of Units​

The third resolution proposes the issuance of up to 16,48,03,867 units of the Trust on a preferential basis through remote e-voting. The total aggregate consideration for this issue is set at up to ₹1726.49 crores and the offer price stands at ₹104.76 per unit.

The issuance is intended to finance the acquisition of the ROFO Assets collectively, which comprises 75.01% of the securities in PHL and 100% of the securities in BGHL, RVHL, BEPL, DPEPL, KEPL, and 49% of the securities in MHHL. The consideration for these acquisitions is to be discharged through the issuance of Trust units to various proposed allottees.

The details of the preferential issue and its proposed investors are presented below:


The Trust confirmed that the Units are considered to be "frequently traded units" based on trading turnover during the preceding 169 trading days prior to the Relevant Date (June 25, 2026).

Voting and Compliance Overview​

The proposed resolutions require approval from Unitholders through a postal ballot via electronic means. The Trust has engaged National Securities Depository Limited (NSDL) to provide the e-voting facility.


The Trust provided detailed information regarding the unitholding pattern both pre and post the preferential issue, confirming that institutional holding was 62.46% prior to the issuance.

ANANTAM Stock Price Movement​

On Friday, shares of Anantam Highways Trust edged higher to close at ₹105.00, marking a 0.87% gain for the trust. The stock saw a traded volume of 6,909 shares during the session.