Cube Highways Trust [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Private Limited announced the price band for its Initial Public Offering as it transitions from a privately listed Investment Infrastructure Trust to a publicly listed InvIT. The price band for the Offer has been fixed at ₹151 to ₹152 per Unit. The Offer comprises an Offer for Sale of aggregating up to ₹ 5,000 crores.
- Issue Opens: July 22, 2026
- Issue Closes: July 24, 2026
- Price Band: Rs 151 – 152 per share
- Minimum Bid Lot: 95 Equity Shares
The Bid/Offer will open on Wednesday, July 22, 2026 and close on Friday, July 24, 2026. Bidders can bid for a minimum of 95 Units and in multiples of 95 Units thereafter.
The Trust has also entered into Unit Subscription Agreements with strategic investors on July 13, 2026. Under these agreements, the strategic investors have agreed to subscribe to 82,236,840 units at an allocation price of up to ₹152 per unit, aggregating ₹1,250 crore, subject to the terms of the Offer.
The Strategic Investors are:
- Prazim Trading and Investment Company Private Limited – 62,500,000 units aggregating up to ₹950 crore.
- HDFC Life Insurance Company Limited – 6,578,947 units aggregating up to ₹1,00 crore.
- HDFC Pension Fund Management Limited – 6,578,947 units aggregating up to ₹100 crore.
- Axis Max Life Insurance Limited – 3,289,473 units aggregating up to ₹50 crore.
- WhiteOak Capital REIT & InvIT Alternatives Fund I – 3,289,473 units up to aggregating ₹50 crore.
The Offer is being made through the Book Building. The Sponsor of the Trust is Cube Highways and Infrastructure V Pte. Ltd., and the Trustee is Axis Trustee Services Limited.
Cube Highways Trust is an irrevocable Trust established under the Indian Trusts Act, 1882, and registered with the Securities and Exchange Board of India (SEBI) as an Infrastructure Investment Trust. It is backed by a diversified investor base, including, among others: (a) I Squared Capital (through ISQ Fund III Asia Infrastructure Holdings Pte. Ltd); (b) Platinum Rock B 2014 RSC Limited (as trustee of the Platinum Stone A 2014 Trust a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA); (c) Varese IRR LP and (d) Mubadala Investment Company PJSC through Seventy Second Investment Company LLC.
Cube Highways Trust is implementing the public-private partnership model in India’s highways sector to operate and manage highways in partnership with the central and state governments.
