Cube Highways Trust Secures ₹1,687 Cr Anchor Investment for IPO
By Business Desk
Cube Highways Trust raises ₹1,687.5 Cr from anchor investors, including Premji Invest, ahead of its ₹5,000 Cr InvIT IPO opening July 22. Strong institutional confidence in infrastructure.
🔥 Main Takeaway
Cube Highways Trust just locked in ₹1,687.5 crore from anchor investors, including a major play from Premji Invest, signaling strong institutional confidence ahead of its massive ₹5,000 crore Infrastructure Investment Trust (InvIT) IPO.
📌 What Happened?
The InvIT public issue, aiming for ₹5,000 crore, opens July 22 with units priced at ₹151-₹152 each, closing July 24.
A total of 11.10 crore units were allocated at ₹152 each to 59 funds, raising ₹1,687.5 crore from anchor investors.
Prazim Trading and Investment Co Pvt Ltd, linked to Premji Invest, led the anchor round with a ₹300 crore contribution and added another ₹950 crore in strategic investments.
Major players like ICICI Prudential Life, SBI Life, HDFC Mutual Fund, and Nippon India Mutual Fund also jumped in, with 12 mutual funds participating across 26 schemes.
The trust also secured an additional ₹1,250 crore from strategic investors on July 13, with HDFC Life, HDFC Pension, Axis Max Life, and WhiteOak Capital also committing funds.
💰 Why It Matters
This robust anchor investor commitment highlights strong institutional appetite for stable, yield-generating infrastructure assets, especially from an InvIT managing 27 operational road assets.
The significant participation from diverse institutional funds, including mutual funds and insurance companies, points to confidence in Cube Highways Trust’s 18-year average residual concession life across its 8,754 lane kilometers.
For investors, this signals a potentially strong debut for the InvIT, offering an avenue to diversify into infrastructure with a publicly listed vehicle on the BSE and NSE.
The successful pre-IPO raise could set a positive precedent for other infrastructure-focused investment trusts looking to tap public markets.
👀 What to Watch Next
Keep an eye on the public issue opening on July 22 and its closing on July 24 to gauge retail and non-institutional investor demand.
The unit allotment is expected around July 29, with the exchange debut on BSE and NSE slated for around August 3.
Monitor the post-listing performance to see how the market values this new publicly traded infrastructure asset, especially given the strong anchor backing.