Cube Highways Trust’s initial public offering is facing tepid interest on its second day of subscription, with the issue standing at just 3% subscribed as of Wednesday.
The infrastructure investment trust (InvIT) opened for public bidding on July 22 and will close on Friday, July 24.
The offering is priced at ₹151–152 per unit, valuing the public issue at ₹5,000 crore ($600 million).
The offering is priced at ₹151–152 per unit, valuing the public issue at ₹5,000 crore ($600 million).
The slow start comes after anchor investors committed ₹1,687.5 crore ahead of the public window.
While anchor participation provides a floor for the issue, the lack of immediate retail and institutional follow-through suggests caution among broader market participants.
The lot size for the IPO is set at 95 units, a structure designed to accommodate smaller investors but which has yet to trigger significant volume.
This muted response reflects a broader hesitation in the Indian infrastructure IPO space, where investors are weighing yield stability against execution risks in toll-road assets.