Summary of this article
Cube Highways Trust InvIT subscribed 26 per cent by Day 2
NII investors showed stronger interest; QIB bids remained negligible
GMP stayed at zero, indicating no expected listing premium
The Rs 5,000 crore Cube Highways Trust Infrastructure Investment Trust (InvIT) issue was subscribed 0.26 times by the end of the second day of bidding on July 23, with demand largely coming from non-institutional investors (NIIs). The three-day issue opened for subscription on July 22 and will close on July 24.
The NII category was subscribed 0.56 times, while the qualified institutional buyers (QIBs), excluding anchor investors, had received only 95 bids against 74.50 million units reserved for the category. Overall, investors had bid for 35.06 million units against the 136.59 million units available for subscription.
Cube Highways Trust InvIT IPO GMP Today
The grey market premium (GMP) for Cube Highways Trust InvIT remained flat at Rs 0 on July 23, indicating no expected listing premium at the current price. Based on the upper price band of Rs 152 per unit, the estimated listing price also stands at Rs 152.
Grey market premiums are unofficial indicators and do not necessarily reflect actual listing performance.
Cube Highways Trust InvIT IPO Price Band And Lot Size
Cube Highways Trust InvIT is a book-built issue comprising an offer for sale (OFS) of 328.95 million shares aggregating Rs 5,000 crore. Since the issue is entirely an OFS, the trust will not receive any proceeds from the offering.
The price band has been fixed at Rs 151-152 per unit. Investors can apply in lots of 95 units, requiring a minimum investment of Rs 14,440 at the upper end of the price band.
The allotment is expected to be finalised on July 29, while the units are tentatively scheduled to list on the NSE and BSE on August 3.
Anchor Book And Reservation
Ahead of the public issue, Cube Highways Trust raised Rs 1,687.50 crore from anchor investors on July 21 by allocating 11.10 crore units.
Of the total issue, around 74.93 per cent has been reserved for QIBs, including anchor investors, while 25.07 per cent has been allocated to NIIs. A separate strategic investor portion has also been earmarked under the issue structure.
About Cube Highways Trust
Cube Highways Trust is an infrastructure investment trust sponsored by Cube Highways and Infrastructure V Pte Ltd. The InvIT owns and operates a diversified portfolio of 27 highway assets spanning 8,754 lane kilometres across 12 states and one Union Territory as of March 31, 2026.
For the financial year ended March 31, 2026, the trust reported total income of Rs 2,922.09 crore, up from Rs 2,106.32 crore a year earlier. Profit after tax increased to Rs 1,422.89 crore from Rs 999.57 crore in the previous financial year.
