Cube Highways Trust (“Cube InvIT”) [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Private Limited, has announced the price band for its Initial Public Offering (IPO) as it prepares to transition from a privately listed Infrastructure Investment Trust (InvIT) to a publicly listed InvIT.
The price band for the offer has been fixed at ₹151 to ₹152 per unit. The IPO comprises an Offer for Sale of up to ₹5,000 crore.
The issue will open for subscription on Wednesday, July 22, 2026, and close on Friday, July 24, 2026. Investors, other than Anchor Investors and Strategic Investors, can bid for a minimum of 95 units and in multiples of 95 units thereafter.
Ahead of the IPO, Cube Highways Trust has secured commitments worth ₹1,250 crore from strategic investors through Unit Subscription Agreements executed on July 13, 2026. The strategic investors will collectively subscribe to 82.24 million units at an allocation price of up to ₹152 per unit, subject to the terms of the offer.
The strategic investor pool includes Prazim Trading and Investment Company Private Limited (₹950 crore), HDFC Life Insurance Company Limited (₹100 crore), HDFC Pension Fund Management Limited (₹100 crore), Axis Max Life Insurance Limited (₹50 crore), and WhiteOak Capital REIT & InvIT Alternatives Fund I (₹50 crore).
The offer is being conducted through the Book Building Process in accordance with the SEBI (Infrastructure Investment Trusts) Regulations, 2014, and applicable regulatory guidelines.
The sponsor of the Trust is Cube Highways and Infrastructure V Pte. Ltd., while Axis Trustee Services Limited serves as the Trustee. The Book Running Lead Managers to the issue are Kotak Mahindra Capital Company Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, and JM Financial Limited. KFin Technologies Limited is the Registrar to the Offer, while Cyril Amarchand Mangaldas is acting as the domestic legal counsel.
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