Cube Highways Trust InvIT IPO: Rs 5,000 Crore Issue Opens

Cube Highways Trust InvIT opened its Rs 5,000 crore public issue for subscription on July 22, closing on July 24. This infrastructure investment trust allows participation in infrastructure assets through listed units, differing from traditional equity IPOs. Investors can bid for units within the price range of Rs 151-152, with a minimum application of 95 units.

Key Offering Details

The total public issue stands at Rs 5,000 crore.

The price band is set between Rs 151 and Rs 152 per unit.

A minimum application requires 95 units.

The subscription period runs from July 22 to July 24.

Allotment is expected by July 27.

Units will be credited and refunds processed by July 28.

Listing on BSE and NSE is scheduled for July 29.

Anchor Investor Commitments

Before the public offering, the trust secured Rs 1,687.5 crore from 59 anchor investors. These investors, including domestic mutual funds, global institutional investors, and insurance companies, received over 11 crore units at the upper price band.

Allocation Structure and Market Status

The issue’s allocation reserves up to 75% for Qualified Institutional Buyers and at least 25% for Non-Institutional Investors, a common practice for InvITs. Currently, the Grey Market Premium (GMP) for Cube Highways Trust InvIT stands at Rs 0, indicating no premium or discount in unofficial trading, though GMP is not a guarantee of listing performance.