Cube Highways Trust secures ₹1,687.5cr from anchor investors before IPO
Cube Highways Trust just pulled in ₹1,687.5 crore from anchor investors ahead of its IPO, which runs July 22-24.
Backed by Cube Highways and Infrastructure V, the trust is looking to raise a total of ₹5,000 crore by selling units held by current investors.
Big names like Citigroup and Morgan Stanley are already on board.
Cube Highways Trust valued at ₹20,430cr
A bunch of domestic mutual funds (think HDFC AMC, SBI MF, and ICICI Prudential AMC) have picked up units too.
Heavy hitters like Azim Premji-backed Prazim Trading and Investment Company, HDFC Life Insurance, and WhiteOak Capital REIT & InvIT Alternatives Fund, along with HDFC Pension Fund Management and Axis Max Life Insurance, have together committed ₹1,250 crore.
Cube Highways Trust manages 27 road projects across India (over 8,700 lane kilometers!), including major expressways like Ghaziabad Aligarh Expressway.
The IPO price is set at ₹151-152 per unit, valuing the trust at about ₹20,430 crore.