Cube Highways Trust InvIT IPO price band: The Cube Highways Trust Limited IPO price band has been fixed in the range of ₹151 to ₹152 per unit. The Cube Highways Trust InvIT IPO date of subscription is scheduled for Wednesday, 22 July and will close on Friday, 24 July. The allocation to anchor investors for the Cube Highways Trust InvIT IPO is scheduled to take place on Tuesday, 21 July.
The Cube Highways Trust InvIT IPO lot size is 95 units and in multiples of 95 units thereafter.
Cube Highways Trust InvIT IPO has reserved not more than 75% in the issue for qualified institutional buyers (QIB), and not less than 25% for non-institutional Institutional Investors (NII).
Tentatively, Cube Highways Trust InvIT IPO basis of allotment will be finalised on Monday, 27 July and the company will initiate refunds on Tuesday, 28 July, while the shares will be credited to the demat account of allottees on the same day following refund. Cube Highways Trust InvIT is likely to be listed on BSE and NSE on Wednesday, 29 July.
Cube Highways Trust InvIT IPO details
The public issue comprises only an offer for sale (OFS) by the existing unitholders, as the privately held Infrastructure Investment Trust (InvIT) transitions to a publicly listed InvIT. Since the issue does not include a fresh issue of units, the trust will not receive any proceeds from the offering. The InvIT is estimated to be worth ₹20,429.86 crore at the upper range of the price band.
Ahead of the IPO, the InvIT secured ₹1,250 crore from five strategic investors. These include Prazim Trading and Investment Company Pvt. Ltd., HDFC Life Insurance Company, HDFC Pension Fund Management, Axis Max Life Insurance, and WhiteOak Capital REIT & InvIT Alternatives Fund I.
The issue is being managed by Kotak Mahindra Capital Company, HDFC Bank, HSBC Securities and Capital Markets (India) and JM Financial, which are acting as the book-running lead managers. KFin Technologies Ltd has been appointed as the registrar to the issue.
Cube Highways Trust InvIT IPO GMP today
Cube Highways Trust InvIT IPO GMP is ₹0, indicating shares are trading at the issue price of ₹152 with no premium or discount in the grey market, according to investorgain.com.
Company details
Cube Highways Trust currently owns a portfolio of 27 operational road assets across India and has entered into binding agreements to acquire four additional assets with a combined enterprise value exceeding ₹7,000 crore. The InvIT also holds a right of first offer (ROFO) for three additional assets from its sponsors and plans to continue expanding its portfolio through acquisitions from both its sponsors and third parties.
As of FY26, the trust’s assets under management (AUM) stood at ₹36,842 crore. Its net debt, including deferred payment obligations, was ₹17,768 crore, resulting in a net debt-to-enterprise value (EV) ratio of 46.82% and a debt-to-EBITDA ratio of 4.21x.
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