Cube Highways Trust Files For Rs 50 bn IPO

20 Mar 2026 CW Team

Cube Highways Trust has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise Rs 50 bn through an initial public offering by means of an offer-for-sale of existing units by current shareholders. The proposed public listing will convert the privately listed infrastructure investment trust (InvIT) into a public InvIT and the raising is entirely an offer-for-sale, with no fresh issuance of units.\n\nUnder the offer-for-sale, Cube Highways and Infrastructure II, Cube Highways and Infrastructure III, Cube Mobility Investments, BCI IRR India and Seventy Second Investment Company will sell their existing units to new investors. The transaction structure envisages swap acquisitions of four additional special purpose vehicle project companies prior to completion, which will expand the portfolio.\n\nAs of September 2025, the Trust had assets under management totalling Rs 365.2 bn and operated 27 road assets across 12 states and one union territory. Of these, 18 are toll roads, six are hybrid annuity model projects and three are annuity assets, and the portfolio includes nine Build, Operate, Transfer and Design, Build, Finance, Operate and Transfer assets as well as nine Toll, Operation, Maintenance and Transfer assets.\n\nThe planned swap transactions will raise the asset count to 31 road assets covering 9,811 lane kilometres upon completion. Kotak Mahindra Capital Company, HDFC Bank, HSBC Securities and Capital Markets (India) Private Limited and JM Financial have been appointed as book running lead managers, while Axis Trustee Services will act as trustee.\n\nThe InvIT benefits from backing by Squared Capital, the investment arm of the Abu Dhabi Investment Authority, British Columbia Investment Management Corporation and Mubadala Investment Company, among other investors. The conversion to a public InvIT is expected to broaden the investor base and permit participation from select mutual funds, insurance companies and pension funds that have been constrained by liquidity considerations in privately listed vehicles.

Infrastructure Urban

01 May 2026

How Hormuz is Hijacking Indian Highways

At the recently held RAHSTA Round Table on 29th April in Pune, and earlier during our webinars for Cement Expo by Indian Cement Review and by FIRST Construction Council on manufacturing construction equipment for the world, one thread lay common: the industry is being subjected to a cost-push chain reaction moving from crude oil → freight/insurance → steel, cement fuel, bitumen, polymers, packaging, logistics and finally project margins. Indeed, the West Asia crisis caused by the war and the Hormuz Strait blockade, which does not directly concern us, has turned around and hit us. If the wa..

Nila Spaces Lists VIDA on Alt DRX, Enables Fractional Ownership

Nila Spaces has listed its GIFT City residential project VIDA on Alt DRX, marking the first tokenised asset under the platform’s “Gujarat Tri-City Investment Opportunity.” The move enables retail investors to participate in premium real estate across Ahmedabad, Gandhinagar and GIFT City starting from the equivalent of 1 sq ft ownership.The initiative aims to address traditional barriers in residential real estate investment, including high entry costs, low liquidity and lengthy transaction cycles. By enabling fractional ownership, the model reduces entry thresholds from Rs 7.5 million–..

Mindspace REIT Reports Strong FY26 Performance

Mindspace Business Parks REIT reported a strong performance for Q4 FY26 and FY26, supported by robust leasing activity, rising occupancy and improved financial metrics across its portfolio.Portfolio committed occupancy increased by 1.2 per cent QoQ to 95.7 per cent, while the REIT achieved gross leasing of 3.5 million sq ft in Q4 FY26 and 7.1 million sq ft for the full year. Pre-leasing remained strong, with nearly 2.0 million sq ft secured at Mindspace Madhapur, Hyderabad, reflecting sustained demand from global occupiers.Revenue from operations rose 31.0 per cent YoY to Rs 8.88 billion in Q4..