KKR, I Squared Capital's road projects trusts plan ₹5,000 crore IPOs
Vertis Infrastructure Trust (backed by KKR) and Cube Highways Trust (from I Squared Capital) are each planning IPOs to raise ₹4,000-5,000 crore.
The goal? Attract a wider mix of investors and tap into strong demand for infrastructure investments in India.
Family offices, HNIs, and big institutions are already showing interest.
Cube and Vertis's projects
Cube Highways runs 27 toll road projects across 8,819 lane kilometers—worth ₹32,266 crore as of March 2025—and delivered an 11.45% annual yield in FY25.
Vertis manages another set of 27 projects covering 8,100 lane kilometers valued at ₹25,000 crore and recently struck a deal to buy 12 more road projects for ₹9,005 crore.
Why public markets make more sense now
With global interest rates up and foreign investors pulling back a bit, both trusts are shifting from private to public InvITs for better liquidity and transparency.
They're working with bankers on the IPO process.
Public InvITs also mean shares can be traded daily and disclosures get stricter—good news for anyone looking for more transparency.
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