Cube Highways Trust has successfully raised ₹1,687.5 crore from anchor investors, gearing up for its ₹5,000 crore Infrastructure Investment Trust (InvIT) public issue, set to open on July 22. This move marks the trust’s shift from private to public status, with key financial players involved.
Investment Details and Anchor Investors
The InvIT has allocated 11.10 crore units to 59 institutional funds at a price of ₹152 per unit. Among the top investors, Prazim Trading and Investment Co Pvt Ltd, linked with Premji Invest, stands out with a substantial allocation of ₹300 crore. Other notable participants include major players like ICICI Prudential Life Insurance, SBI Life, and various mutual funds. In total, 12 mutual funds, through 26 different schemes, participated in this crucial phase of funding.
Public Issue Components
The Cube Highways Trust has set a price band of ₹151-152 per unit for its public issue, which will remain open until July 24. This offering is a 100% book-built Offer for Sale (OFS) of existing units as the trust transitions to being publicly listed. Additionally, prior to this issue, the trust secured ₹1,250 crore from strategic investors through unit subscription agreements executed on July 13, which is included in the overall issue size. Strategic investors will subscribe to 8.22 crore units, solidifying their commitment to the venture.
Portfolio Overview and Future Prospects
The Cube Highways Trust, registered with SEBI, has a diverse portfolio comprising 27 operational road assets that span 8,754 lane kilometers across 12 states and one Union Territory as of March 31, 2026. Notably, these assets boast an average residual concession life of 18 years, presenting a long-term investment opportunity. The unitholders’ confidence is reflected by the fact that this move aims to provide liquidity and greater visibility on public platforms like BSE and NSE. The allotment basis is expected to be finalized by July 29, with units likely debuting on the exchanges around August 3.
What This Means
The transition of Cube Highways Trust from a privately listed to a publicly listed entity represents a significant development in the Indian infrastructure sector. This offering not only enhances the investment landscape for institutional and retail investors but also promotes increased transparency and accountability in the management of infrastructure assets. With the growing demand for infrastructure financing in India, such InvITs play a crucial role in attracting both domestic and foreign investments, highlighting the sector’s potential for growth. The successful completion of this public issue could pave the way for more InvITs in the future, further stimulating the market.
Frequently Asked Questions
What is Cube Highways Trust?
Cube Highways Trust is a SEBI-registered Infrastructure Investment Trust (InvIT) that manages a portfolio of operational road assets in India, focused on offering long-term returns to its investors.
Why is this public issue important?
The public issue allows Cube Highways Trust to transition from privately listed status, enabling greater liquidity, transparency, and potential for attracting a broad base of investors in the infrastructure sector.
How will the funds raised be utilized?
The funds raised through this public offer and previous strategic investments will be used to manage and enhance the operational efficiency of the existing road assets, along with exploring new infrastructure opportunities.
What are the key dates for the public issue?
The public issue opens on July 22 and will close on July 24. Allotment basis is expected to be finalized by July 29, and the units are anticipated to be listed on the stock exchanges around August 3.
