Cube Highways Trust IPO

Status: Closed
RHP:
BSE NSE

₹ 14,345 / 95 shares
Minimum Investment

IPO Listing Details

Listing Date
31 Jul 2026
Listing Price
₹155.00
Listing Change
1.97%
Last Traded Price
₹158.99

Cube Highways Trust IPO Details

Open Date
22 Jul 2026
Close Date
24 Jul 2026
IPO Price Range
₹ 151 to ₹152.
IPO Size
₹ 5,000.00 Cr

Open Free Demat Account

+91

By proceeding, you agree to all T&C*

Cube Highways Trust IPO Subscription Status

Date	QIB	NII	Retail	TOTAL
22-July-2026	0.00	0.11	-	0.05
23-July-2026	0.00	0.56	-	0.26
24-July-2026	13.20	4.74	-	9.35

About Cube Highways Trust

Last Updated: 29 July 2026 1:13 PM by 5paisa

Cube Highways Trust is one of India's largest Infrastructure Investment Trusts (InvITs), owning and operating a diversified portfolio of mature highway assets. As of March 31, 2026, it managed 27 road projects spanning 8,754 lane kilometres across 12 states and one union territory. Backed by the Cube Group, the Trust generates stable cash flows through toll and annuity projects while focusing on operational efficiency, disciplined capital allocation, and long-term portfolio expansion.

Established in: 2022

Managing Director: Rahul Rajan Choudhary

Peers:

Metric	Cube Highways Trust InvIT	IRB Infrastructure Trust	National Highways Infra Trust	Vertis Infrastructure Trust
NAV per Unit (₹)	145.77	319.73	150.50	106.80
Premium / (Discount to NAV)%	-1.89	-31.12	11.59	3.00

Cube Highways Trust Objectives

1. Transition from a privately listed InvIT to a publicly listed InvIT through an Offer for Sale (OFS).

2. List the Trust's units on the BSE and NSE to enable public trading and broaden investor participation.

Cube Highways Trust InvIT IPO Size

Types	Size
Total IPO Size	₹5,000.00 Cr
Offer For Sale	₹5,000.00 Cr
Fresh Issue	-

Cube Highways Trust InvIT IPO Reservation

Investors Category	Subscription (times)	Shares Offered*	Shares bid for	Total Amount (Cr.)*
QIB (Ex Anchor)	13.20	7,45,03,370	98,32,18,555	14,944.92
Non-Institutional Buyers	4.74	6,20,86,110	29,45,36,100	4,476.95
Total**	9.35	13,65,89,480	1,27,77,54,655	19,421.87

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Cube Highways Trust Financial Status

Profit and Loss

Revenue
EBITDA
PAT

Balance Sheet

Total Liabilities
Share Capital
Total Assets

Particulars (In ₹ Crores)	FY24	FY25	FY26
Revenue	2916.14	3307.14	4238.89
EBITDA	1368.86	2379.70	3234.54
PAT	-705.92	-35.72	216.72

Particulars (In ₹ Crores)	FY24	FY25	FY26
Total Assets	24625.75	28000.16	29398.47
Share Capital	145.50	146.50	146.50
Total Liabilities	11676.76	16562.70	19615.551

Cash Flows (₹ Crores)	FY24	FY25	FY26
Net Cash Generated From / (used in) Operating Activities	1869.95	2916.36	3802.95
Net Cash Generated From / (used in) Investing Activities	-1032.89	-301.94	-758.48
Net Cash Generated From / (used in) Financing Activities	-1224.05	-21986.50	-3869.43
Net Increase (Decrease) in Cash and Cash Equivalents	-386.99	427.91	-824.96

Cube Highways Trust IPO SWOT Analysis

Strengths

1. Diversified portfolio across multiple Indian states and territories.

2. Stable cash flows from toll and annuity assets.

3. Strong institutional sponsorship by experienced Cube Group.

4. Proven acquisition capabilities supporting long-term portfolio expansion.

Weaknesses

1. Revenue dependent on road traffic and concession terms.

2. High capital requirements for infrastructure asset acquisitions.

3. Limited diversification beyond transport infrastructure asset class.

4. Performance influenced by regulatory and policy changes.

Opportunities

1. Expanding infrastructure investment opportunities across India's highways.

2. Potential acquisitions through committed and ROFO pipeline.

3. Rising investor interest in yield-generating InvIT investments.

4. Government infrastructure spending supports sector growth prospects.

Threats

1. Regulatory changes affecting concession and toll frameworks.

2. Economic slowdown reducing commercial traffic volumes significantly.

3. Higher interest rates impacting investor return expectations.

4. Competition for quality operational infrastructure asset acquisitions.

Why Invest in Cube Highways Trust IPO?

1. Diversified portfolio of mature, income-generating highway assets.

2. Stable cash flows from toll and annuity projects.

3. Strong sponsor with proven infrastructure investment expertise.

4. Growth potential through committed acquisition and ROFO pipeline.

Cube Highways Trust Industry Landscape and Growth Potential

India's infrastructure sector continues to benefit from rising government investment, expanding highway networks, and increasing private sector participation through the InvIT framework. As operational road assets mature, InvITs offer investors access to stable, income-generating infrastructure with long-term growth potential. Supported by favourable policy initiatives, improving traffic volumes, and a strong pipeline of operational assets, the highway InvIT segment is well positioned to attract institutional and retail investment over the coming years.