Cube Highways Trust to launch ₹5,000cr IPO July 22
Business
Cube Highways Trust is about to go public, launching a ₹5,000 crore IPO on July 22. This move will turn the privately listed infrastructure trust into a public one.
Details include the price band drop on July 15 and anchor investors can get first dibs starting July 21, if an anchor book is opened.
Backers selling stakes, investors commit ₹1,250cr
Big names are selling their stakes: BCI IRR India Holdings (₹811.8 crore), Seventy Second Investment Company (₹542.1 crore), and sponsor Cube Highways with partners offloading ₹3,646 crore.
Ahead of the IPO, investors like Prazim Trading and HDFC Life Insurance have already committed ₹1,250 crore.
Cube Highways Trust manages a massive network: 27 road assets covering over 8,700 lane kilometers across India.