Cube Highways Trust has established a price band of ₹151 to ₹152 per unit for its initial public offering, valuing the public issue at ₹5,000 crore ($600 million).
The infrastructure investment trust (InvIT) will open for subscription on July 22 and close on July 24, marking a significant step in its transition from a privately listed entity to a publicly traded one.
The IPO follows a pre-IPO placement that secured ₹1,250 crore ($150 million) in commitments from strategic investors, including Premji Invest and HDFC Group.
The offering is structured as an offer for sale (OFS) by existing unitholders, allowing current investors to exit or reduce their stakes while the trust itself raises no new capital.
This structure is typical for InvITs seeking to broaden their investor base and enhance liquidity without altering their debt or equity capital structure.
The IPO follows a pre-IPO placement that secured ₹1,250 crore ($150 million) in commitments from strategic investors, including Premji Invest and HDFC Group.
These commitments underscore institutional confidence in the trust’s asset quality and yield profile, providing a stable foundation ahead of the public listing.