Cube Highways Trust InvIT debuts with 2% premium over issue price of Rs 152

Cube Highways Trust InvIT made a positive debut on the stock exchanges on Friday, listing at Rs 155 per unit, a 2% premium over its issue price of Rs 152.

The InvIT gained further momentum during the session, touching an intraday high of Rs 158 on the NSE before easing slightly. It traded around Rs 156.98, valuing the trust at a market capitalisation of Rs 21,045 crore. On the BSE, the units were trading at Rs 157.07.

The listing comes after a robust investor response to the Rs 5,000-crore public issue, which was subscribed more than nine times, reflecting strong confidence in India's infrastructure investment story.


Management hails successful market debut

Reacting to the listing, Vinay C. Sekar, Chief Executive Officer of Cube Highways Trust, said the successful public offering was a strong endorsement of the Trust's strategy and execution capabilities.

"The successful completion of the Cube InvIT IPO is a strong endorsement of our people, portfolio quality, and long-term strategy. We are grateful for the confidence shown by investors and remain committed to delivering sustainable growth, strong governance, and consistent value creation for all stakeholders," Sekar said.

Pankaj C. Vasani, Group Chief Financial Officer of Cube Highways Trust, described the listing as a landmark moment that extends beyond raising capital.

"Today's milestone is about far more than the opening bell, the successful Rs 5,000 crore offer, the overwhelming 9x-plus subscription, becoming India's largest publicly listed InvIT, or being the first InvIT to transition from a privately listed to a publicly listed platform. Above all, it is about the trust we have earned, the value we aspire to create, and the disciplined stewardship of the public capital entrusted to us," Vasani said.

He added that the public listing ushers in a new phase for the Trust, with thousands of retail and institutional investors joining as unitholders.

"The market has spoken; now begins the quieter work of honouring that trust. We will continue to uphold the highest standards of governance, pursue sustainable growth, and deliver stable, predictable distributions while creating enduring value for our unitholders," he said, while thanking regulators, sponsors, employees, lenders, advisors, partners, and investors for their continued support.

Cube Highways Trust InvIT IPO details

Cube Highways Trust InvIT opened its public issue between July 22 and July 24, 2026, raising Rs 5,000 crore through an offer for sale of 32.89 crore units. The issue was priced in the band of Rs 151-152 per unit.

The successful listing broadens the Trust's investor base and marks a significant step in its transition into one of India's largest publicly owned infrastructure investment platforms.

About Cube Highways Trust

Established in March 2022, Cube Highways Trust is an Infrastructure Investment Trust (InvIT) sponsored by Cube Highways and Infrastructure V Pte. Ltd. It acquires, owns, operates, and manages highway and transportation infrastructure assets across India.

As of March 31, 2026, the Trust owned 27 operational road assets covering nearly 8,754 lane kilometres across 12 states and one Union Territory, making it one of India's leading highway InvITs.

Its portfolio comprises both toll-based and annuity-based road assets, providing diversified and predictable cash flows under long-term concession agreements.

The Trust follows a strategy of acquiring mature, income-generating infrastructure assets while enhancing operational efficiency through technology-led asset management, disciplined capital allocation, and efficient maintenance practices.

Backed by the Cube Group, the InvIT also enjoys access to a pipeline of committed and right-of-first-offer (ROFO) assets, providing visibility for future expansion.

Cube Highways Fund Advisors Private Limited manages the Trust's investments, portfolio operations, and growth strategy.

As of March 31, 2026, the Trust and its portfolio entities employed over 800 professionals across operations, finance, compliance, project management, maintenance, and safety, supported by more than 5,000 contractual workers engaged in day-to-day highway operations.

FY26 financial performance

Cube Highways Trust reported a strong financial performance in FY26, underlining the resilience of its operational portfolio.

Total income rose 38.7% year-on-year to Rs 2,922.09 crore in FY26 from Rs 2,106.32 crore in FY25.

Meanwhile, Profit After Tax (PAT) increased 42.3% to Rs 1,422.89 crore, compared with Rs 999.57 crore in the previous financial year, supported by improved operational efficiency, disciplined asset management, and higher value creation.

With a diversified portfolio of operational highway assets, predictable cash flows, and strong institutional backing, Cube Highways Trust enters the public market well-positioned to benefit from India's expanding infrastructure investment landscape.

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