Cube Highways Trust has fixed the price band for its initial public offering at ₹151 to ₹152 per unit, valuing the ₹5,000 crore ($600 million) public issue.
The infrastructure investment trust (InvIT) will open its subscription window on July 22, marking a key step in its transition from a privately listed entity to a publicly traded one.
The pricing comes after Cube Highways Trust secured ₹1,250 crore ($150 million) in commitments from strategic investors, including Premji Invest and HDFC Group.
The offering is structured as a 100% book-built Offer for Sale (OFS) by existing unitholders.
This structure allows current investors to exit or reduce positions while the trust itself does not raise fresh capital.
The move is designed to broaden the trust's investor base and enhance liquidity for its units, which are backed by a portfolio of toll roads.
The pricing comes after Cube Highways Trust secured ₹1,250 crore ($150 million) in commitments from strategic investors, including Premji Invest and HDFC Group.