Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Cube Highways Trust's INR 5,000 crore Infrastructure Investment Trust (InvIT) public issue witnessed strong investor demand, with the offer being subscribed 9.35 times by the close of bidding. Institutional investors led the response, while the trust had already secured investments from anchor and strategic investors before the issue opened. The public issue is entirely an Offer for Sale as the trust moves from a privately listed to a publicly listed InvIT. Following the allotment process, the units are expected to be listed on the BSE and NSE in early August.
Cube Highways Trust's initial public offering (IPO) under the Infrastructure Investment Trust (InvIT) structure received a strong response from investors, with the issue being subscribed 9.35 times on the final day of bidding.
According to data available on the National Stock Exchange (NSE), the INR 5,000 crore public issue received bids for 1,27,77,54,655 units against the 13,65,89,480 units offered. The institutional investors' category recorded the highest participation, with subscriptions reaching 13.20 times the allocated portion. The category reserved for other investors was subscribed 4.74 times.
Before the public issue opened, Cube Highways Trust had strengthened investor participation through anchor and strategic allocations. During the past week, the trust raised INR 1,687.5 crore from anchor investors. Among them, Prazim Trading and Investment Co. Pvt. Ltd., an entity associated with Premji Invest, emerged as the largest anchor investor with an allocation of INR 300 crore.
Other key investors in the anchor book included ICICI Prudential Life Insurance Company, SBI Life Insurance Company, HDFC Mutual Fund, SBI Mutual Fund, Nippon India Mutual Fund and Tata Mutual Fund.
The trust had also secured INR 1,250 crore from strategic investors through unit subscription agreements executed earlier this month. This strategic investor portion forms part of the overall issue size. The price band for the issue was fixed at INR 151-152 per unit.
The entire public issue is a 100 per cent book-built Offer for Sale (OFS) by existing unitholders. No fresh units are being issued, as the transaction is aimed at facilitating Cube Highways Trust's transition from a privately listed InvIT to a publicly listed InvIT.
Cube Highways Trust is a Securities and Exchange Board of India (SEBI)-registered Infrastructure Investment Trust focused on operational road infrastructure assets. As of March 31, 2026, its portfolio comprised 27 operational road assets covering 8,754 lane kilometres across 12 states and one Union Territory. The InvIT model enables infrastructure owners to monetise completed assets while offering investors an opportunity to participate in income-generating infrastructure projects through listed investment vehicles.
The units are proposed to be listed on both the BSE and the NSE. The basis of allotment is expected to be finalised later this week, while refunds and credit of units to successful applicants' demat accounts are scheduled for the following day. The units are expected to make their stock market debut on August 3.
Kotak Mahindra Capital Company, HDFC Bank, HSBC Securities and Capital Markets (India) Pvt. Ltd. and JM Financial are the book-running lead managers for the issue, while KFin Technologies is acting as the registrar.
Source PTI
Advertisement
Facebook
Whatsapp
