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Cube Highways IPO: Low Subscription Rate on Day 2

By Business DeskCube Highways IPO: Low Subscription Rate on Day 2

Cube Highways Trust IPO struggles, achieving only 8% subscription by day two. Investors await closing on July 24, 2026, with flat listing expected.

The Cube Highways Trust Initial Public Offering (IPO) saw a muted response, achieving only an 8% subscription rate by its second day after opening on July 22, 2026.

As of 1:25 PM on the reporting day, the trust had received bids for 1,06,08,460 shares against a total offering of 13,65,89,480 shares.

Key IPO Figures

Here are the core numbers for the Cube Highways Trust IPO:

  • Subscription Rate (Day 2): 8%
  • Total Offering: 13,65,89,480 shares
  • Bids Received: 1,06,08,460 shares
  • Other Investors’ Subscription: 17%
  • Grey Market Premium (GMP): Rs 0
  • IPO Price Band: Rs 151 to Rs 152 per unit
  • Target Public Issue Raise: Rs 5,000 crore

Market indicators from Investorgain suggest a flat listing for the trust, with its unlisted shares trading at a Grey Market Premium (GMP) of Rs 0. The three-day subscription window is set to close on July 24, 2026.

Anchor Investor Contribution

Prior to the public issue, Cube Highways Trust successfully raised Rs 1,687.5 crore from anchor investors. This capital infusion was part of its larger Rs 5,000-crore Infrastructure Investment Trust (InvIT) public issue.

  • Units Allocated to Anchor Investors: 11.10 crore units
  • Price Per Unit for Anchor Investors: Rs 152
  • Number of Funds Involved: 59
  • Top Anchor Investor: Prazim Trading and Investment Co Pvt Ltd (invested Rs 300 crore)
  • Other Notable Anchor Investors: ICICI Prudential Life Insurance Company, SBI Life Insurance Company, HDFC Mutual Fund, SBI Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund

Cube Highways Trust, a Sebi-registered InvIT, manages a portfolio of 27 operational road assets. These assets encompass 8,754 lane kilometers across 12 states and one Union Territory, holding an average residual concession life of 18 years as of March 31, 2026.

Listing Timeline

The units are slated for listing on both the BSE and NSE, following these key dates:

  • Allotment Finalization: around July 29, 2026
  • Refunds and Unit Crediting: by July 30, 2026
  • Market Debut: August 3, 2026
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