The ₹5,000 crore Cube Highways Trust InvIT IPO entered its final day of subscription today, July 24, 2026, with a price band of ₹151 to ₹152 per unit. As of 11:30 AM on Day 3, the issue had been subscribed 0.09 times.

The IPO will remain open for subscription until the close of bidding today, July 24, 2026. The basis of allotment is expected to be finalised on July 29, 2026, while the units are tentatively scheduled to be listed on the NSE and BSE on August 3, 2026.

Cube Highways Trust InvIT IPO - Issue Details

Issue Type: Book Built Issue (OFS Only)
Total Issue Size: Up to ₹5,000 crore
Fresh Issue: Not Applicable
Offer for Sale (OFS): Up to ₹5,000 crore
Price Band: ₹151 to ₹152 per unit
Listing: BSE, NSE
Sponsor: Cube Highways and Infrastructure V Pte. Limited
Investment Manager: Cube Highways Fund Advisors Private Limited
Trustee: Axis Trustee Services Limited
Book Running Lead Managers: Kotak Mahindra Capital Company Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited and JM Financial Limited
Registrar: KFin Technologies Limited

Cube Highways Trust InvIT IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	Wednesday, July 22, 2026
Subscription Closing Date	Friday, July 24, 2026
Finalisation of the Basis of Allotment	Wednesday, July 29, 2026
Refund Initiation Date	Thursday, July 30, 2026
Credit of Units	Thursday, July 30, 2026
Listing on BSE and NSE	Monday, August 3, 2026

Note: The allotment and listing dates are tentative and may be revised.

Explore other upcoming IPOs on BSE and NSE.

IPO Offer Structure and Selling Unitholders

The ₹5,000 crore Cube Highways Trust InvIT IPO is structured entirely as an Offer for Sale (OFS), with no fresh units being issued. As a result, the Trust will not receive any proceeds from the public issue. After deducting applicable taxes and offer-related expenses, the entire sale consideration will be distributed to the existing unitholders participating in the OFS.

The selling unitholders include Seventy Second Investment Company LLC, BCI IRR India Holdings Inc., BCI IRR India Holdings Limited Partnership, Cube Mobility Investments Pte. Ltd., Cube Highways and Infrastructure II Pte. Ltd., and Cube Highways and Infrastructure III Pte. Ltd.

Cube Highways Trust InvIT IPO Day 3 Subscription Status

[July 24, 2026, 11:30 AM]

Category	Subscription (x)
Institutional Investors	0.00x
Other Investors	0.20x
Total	0.09x

About Cube Highways Trust InvIT

Cube Highways Trust is an Infrastructure Investment Trust (InvIT) focused on acquiring, owning, and managing operational road infrastructure assets in India. Sponsored by Cube Highways and Infrastructure V Pte. Ltd., the Trust has been listed on Indian stock exchanges since April 2023. As of March 31, 2026, its portfolio included 27 highway assets spanning 8,754 lane kilometres across 12 states and one Union Territory. Following the completion of one concession agreement, the portfolio comprises 26 operational road projects.

The Trust generates stable cash flows through a diversified portfolio of toll and annuity-based highway assets. Cube Highways Fund Advisors Private Limited serves as the Investment Manager and oversees the Trust's investment decisions and day-to-day operations.

Key Financial Information

Particulars	FY26 (₹ crore)	FY25 (₹ crore)	FY24 (₹ crore)
Enterprise Value / AUM	36,841.76	32,265.72	25,810.60
Revenue from Operations	4,238.89	3,307.14	2,916.14
Total Income	4,359.03	3,453.15	3,074.11
EBITDA	3,234.54	2,379.70	1,368.86
Distribution per Unit (DPU) (₹)	13.77	11.00	10.09
Net Debt to AUM Ratio (%)	46.82%	44.65%	33.65%