Cube Highways Trust eyes Rs 5,000-cr via IPO

New Delhi: Cube Highways Trust, an infrastructure investment trust (InvIT), has filed preliminary papers with markets regulator Sebi to raise Rs 5,000 crore through its initial public offering (IPO).

The proposed IPO is entirely an Offer-for-Sale (OFS), where its current shareholders will sell their existing units to new investors.

“Cube Highways Trust (Trust) is a privately listed infrastructure investment trust and is proposing conversion from a privately listed infrastructure investment trust to a public InvIT through an Offer-for-Sale of units aggregating up to Rs 5,000 crore,” according to the documents filed on Tuesday.

Under the OFS, Cube Highways and Infrastructure II, Cube Highways and Infrastructure III, Cube Mobility Investments, BCI IRR India and Seventy Second Investment Company will offload units.

Cube Highways Trust implements the public-private partnership model in the country’s highways sector to operate and manage highway projects in association with the central and state governments. Its asset under management (AUM) stood at Rs 36,520 crore as of September 2025.

The InvIT is backed by Squared Capital, an arm of the Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corporation, Abu Dhabi’s sovereign investor and Mubadala Investment Company.