Cube Highways Trust
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹152
Per ShareLot Size
95 Shares
Minimum Investment
₹14,440
Issue Size
₹5,000 Cr
Face Value
₹0
Per ShareIPO Type
Book Building-InvITs
Retail Quota
0%
QIB Quota
75%
NII Quota
25%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
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*Real-time data subject to exchange updates
Cube Highways Trust
Business model, operations, and market positioning.
Issue Type
Book Building-InvITs
ISIN
INE0NR623014
About the Company
We are an Indian infrastructure investment trust sponsored by Cube Highways and Infrastructure V Pte. Ltd. and established with the objective of acquiring and operating road assets in India. We are engaged in implementing the public-private partnership model in India's highways sector to operate and manage highways in association with the central and state governments. We are registered with SEBI under the InvIT Regulations, and our Units have been listed on the Stock Exchanges since April 19, 2023.
Company History
Settled in the Republic of India as an irrevocable trust by way of the trust deed dated December 7, 2021, entered into between the Settlor, Cube Highways and Infrastructure Pte. Ltd., Cube Highways and Infrastructure III Pte. Ltd. and the Trustee, as amended and restated on July 8, 2022, and March 11, 2024, respectively, read with the deed of adherence dated February 20, 2026, executed by the Sponsor under the Indian Trusts Act, 1882 and registered as an infrastructure investment trust under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended on April 5, 2022, having registration number IN/InvIT/22-23/0022. The Trust's units were initially listed on BSE Limited and National Stock Exchange of India Limited on a private placement basis on April 19, 2023.
Growth Strategy
- Active asset management to drive growth and yield.
- Calibrated expansion of the portfolio.
- Implementing prudent capital management policies.
- Embedding sustainability and ESG practices in our business model.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Cube Highways Trust (the "Trust") is a privately listed infrastructure investment trust and is proposing conversion from a privately listed infrastructure investment trust to a public InvIT through an Offer for Sale of 328,947,365 units of the Trust ("Units") aggregating to approximately Rs. 5000.00 Crores, consisting of, 52,073,815 Units by BCI IRR India Holdings Inc. aggregating to Rs. 791.52 Crores, 1,335,197 Units by BCI IRR India Holdings Limited Partnership aggregating to Rs. 20.30 Crores, 103,443,815 Units by Cube Highways and Infrastructure II Pte. Ltd. aggregating to Rs. 1572.35 Crores, 50,658,881 Units by Cube Highways and Infrastructure III Pte. Ltd. aggregating to Rs. 770.02 Crores, 85,766,973 Units by Cube Mobility Investments Pte. Ltd. aggregating to Rs. 1303.66 Crores, and 35,668,684 Units by Seventy Second Investment Company LLC aggregating to Rs. 542.16 Crores (collectively, the "Selling Unitholders") at a price of Rs. 152 per Unit (the "Offer Price") (collectively, the "Offer"). Price Band: Rs. 152 per unit. Bidders (other than Anchor Investors and Strategic Investors) can make bids for a minimum of 95 units and in multiples of 95 units thereof.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Dedicated growth vehicle and access to a strong pipeline of ROFO Assets and other future growth opportunities.
- Large and diversified portfolio of highway assets.
- Differentiated and proven M&A capabilities.
- Strong portfolio construction capabilities.
- Advanced asset management and maintenance expertise
- The company may not be able to make regular distributions to Unitholders, or the level of its distributions may fall.
- A significant portion of the company's revenue from operations is dependent on annuity payments from the NHAI, which may be delayed, disputed or reduced, which could adversely affect its business, results of operations, financial condition and cash flows.
- The company's failures to extend concession agreements or inability to identify and acquire new road assets that generate comparable or higher revenue from operations, profits and cash flows than the Portfolio Assets may have an adverse effect on its business, financial condition, results of operations, cash flows and the company's ability to make distributions to Unitholders.
- The company's toll collections and traffic volumes is subject to uncertainties, including competing roads, exemptions, toll leakage, changes in vehicle mix, and government directives, which could adversely affect its business, results of operations, financial condition and cash flows.
- The company's concession agreements may be terminated prematurely or suspended by concessioning authorities upon the occurrence of certain events of default.