Cube Highways Trust Plans ₹5,000-Crore IPO This Month, InvIT Eyes Wider Investor Base And Better Market Liquidity

Mumbai: Cube Highways Trust is planning to launch its Rs 5,000-crore initial public offering (IPO) later this month. The public issue will be entirely through an offer for sale (OFS), meaning existing investors will sell their holdings and the trust will not receive fresh funds directly.

The IPO is aimed at bringing in more investors and improving trading liquidity in the market.

Strong Asset Base

Cube Highways Trust, also known as Cube InvIT, owns a large portfolio of road assets across India. As of March 31, 2026, the trust had 27 operational highway assets spread across 12 states and one Union Territory.

These assets cover 8,754 lane kilometres, with an average concession life of 18 years, ensuring long-term revenue visibility.

Stable Revenue Model

The trust earns income mainly from toll collections and annuity payments. Around 85 percent of its portfolio consists of toll roads, which benefit from rising traffic and periodic toll hikes linked to inflation.

The remaining 15 percent comes from annuity assets, where payments are backed by the National Highways Authority of India, providing steady and predictable cash flows.

CEO Vinay C Sekar said the trust remains focused on disciplined acquisitions, steady payouts, financial discipline and efficient operations.

Growth Pipeline

Cube InvIT declared a distribution of Rs 13.77 per unit for FY26, taking total yearly distributions to Rs 1,851 crore.

Its net debt stood at Rs 17,768 crore, while assets under management rose to Rs 36,842 crore, supported by nine acquisitions during the year.

The trust has also signed commitment letters for four new highway projects worth around Rs 7,300 crore. Once completed, Cube’s portfolio will grow to 31 assets across 13 states and one Union Territory, strengthening its future growth pipeline.