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Cube Highways Trust InvIT logo
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CUBE HIGHWAYS TRUST INVIT IPO

ALREADY DEPARTEDNSE, BSE · MAINBOARD · ROAD ASSETS–TOLL, ANNUITY, HYBRID-ANNUITY
INDICATIVE FARE / PRICE BAND
₹152
BAND INDICATIVE · NOTHING FINAL UNTIL THE RHP
FIGURES ON THIS PAGE AS OF 12 AUG 2026, 11:03 IST · REFRESHED THROUGH THE DAY
THE FARE BOARD · KEY NUMBERS

BY THE NUMBERS.

PRICE BAND
₹152
LOT SIZE
95 SHARES
ISSUE SIZE
₹5000.00 CR
MIN INVESTMENT
₹14,440 · 95 SHARES
THE TIMETABLE · FOUR STOPS
THE JOURNEY.
OPENS
22 JUL 26
✓ STOP CLEARED
CLOSES
24 JUL 26
✓ STOP CLEARED
ALLOTMENT
29 JUL 26
✓ STOP CLEARED
LISTING
31 JUL 26
✓ STOP CLEARED
ANCHOR BIDDING21 JUL 26REFUNDS INITIATED30 JUL 26SHARES IN DEMAT30 JUL 26ANCHOR LOCK-IN ENDS · 30 DAY28 AUG 26ANCHOR LOCK-IN ENDS · 90 DAY27 OCT 26
TIMETABLE AS FILED · DATES CAN MOVE · CONFIRM AGAINST THE OFFICIAL RHP AND THE REGISTRAR
END OF THE LINE · LISTING DAY

WHERE IT LANDED.

LISTING PRICE
₹155
DAY-1 LISTING GAIN
+1.97%
THE BOOKING SHEET · SUBSCRIPTION

HOW FULL THE BUS GOT.

OVERALL SUBSCRIPTION9.35×
QIB13.2×
NII4.74×
THE CENTRE TICK = 1× · BUS FULL · SUBSCRIPTION FIGURES AS REPORTED BY THE EXCHANGES · TIMES THE ISSUE · INFORMATION ONLY
THE FARE TABLE · WHAT AN APPLICATION COSTS

TICKET CLASSES.

APPLICATIONLOTSSHARESAMOUNT
RETAIL · MINIMUM · AS PUBLISHED195₹14,440
RETAIL · MAXIMUM · COMPUTED131,235₹1,87,720
SMALL HNI · MINIMUM · AS PUBLISHED141,330₹2,02,160
SMALL HNI · MAXIMUM · COMPUTED696,555₹9,96,360
BIG HNI · MINIMUM · AS PUBLISHED706,650₹10,10,800
EACH ROW SAYS WHETHER ITS FIGURES ARE THE QUANTITIES PUBLISHED FOR THIS ISSUE OR OUR OWN ARITHMETIC · COMPUTED ROWS ARE LOT SIZE × UPPER BAND · AMOUNTS AT THE UPPER BAND OF ₹152 · CATEGORY LIMITS PER SEBI THRESHOLDS (₹2 LAKH RETAIL CEILING, ₹10 LAKH SHNI/BHNI BOUNDARY) · INFORMATION ONLY · WE DO NOT ACCEPT OR PROCESS IPO APPLICATIONS
THE MANIFEST · ISSUE STRUCTURE

HOW THE ISSUE IS BUILT.

ISSUE TYPE
BOOK BUILD ISSUE
OFFER FOR SALE
₹5,000 CR
32,89,47,365 SHARES
TOTAL SHARES OFFERED
32,89,47,365

The two legs send the money to different places: a fresh issue raises new capital for the company, while an offer for sale is existing shares being sold by existing shareholders, whose proceeds go to those sellers and not to the company.

FIGURES AS PUBLISHED FOR THIS ISSUE · CONFIRM AGAINST THE OFFICIAL RHP
THE GAUGES · VALUATION AND RETURNS

ON THE DASHBOARD.

EBITDA MARGIN
74.2%
FIGURES STATED AS OF 31 MAR 2026 · AS PUBLISHED FOR THIS ISSUE AND REPRODUCED WITHOUT ADJUSTMENT · A REPORTED RATIO IS NOT A VIEW ON VALUE · CONFIRM AGAINST THE OFFICIAL RHP
THE LOGBOOK · REPORTED FINANCIALS

THE RUNNING RECORD.

INR CR31 MAR 2531 MAR 26
ASSETS28,624.2530,763.19
TOTAL INCOME2,106.322,922.09
PROFIT AFTER TAX999.571,422.89
TOTAL BORROWING439.96491.65
AMOUNTS IN INR CR · AS PUBLISHED FOR THIS ISSUE AND REPRODUCED WITHOUT ADJUSTMENT · CONFIRM AGAINST THE OFFICIAL RHP
OTHER SERVICES ON THIS ROUTE · PEER GROUP

WHO ELSE RUNS THIS LINE.

PEERNAV (₹ PER SHARE)
Cube Highways Trust · THIS ISSUER142.7
IRB Infrastructure Trust319.73
National Highways Infra Trust150.5
Vertis Infrastructure Trust106.8
Interise Trust117.5
Shrem InvIT88.12
Oriental InfraTrust111.24
PEER GROUP STRUCK AS AT 31 MAR 2025 · AS PUBLISHED FOR THIS ISSUE · NOT LIVE MARKET QUOTES, AND NOT A COMPARISON DRAWN BY BUYUNLISTEDSHARES
THE NOTE PUBLISHED WITH THIS PEER GROUP

(1) NAV as of March 31, 2026. (2) Premium / (Discount) to NAV % has been calculated as Unit Price, divided by Net Asset Value per Unit minus one, based on the latest available price on the stock exchanges of the peers as on July 2, 2026. The respective price available is as follows: IRB Infrastructure Trust - ₹ 220.22 on NSE as on July 2, 2026 National Highways Infra Trust - ₹ 167.95 on NSE as on July 2, 2026 Vertis Infrastructure Trust - ₹ 110.00 on NSE as on July 2, 2026 Interise Trust - ₹ 109.75 on NSE as on July 2, 2026 Shrem InvIT - ₹ 101.80 on NSE as on July 2, 2026 Oriental Infra Trust - ₹ 100.00 on NSE as on July 2, 2026

THE SEATING PLAN · CATEGORY RESERVATION

WHO GETS WHICH SEATS.

ANCHOR INVESTOR
11,10,19,565
SHARES
QIB
7,40,13,328
Not more than 75% of the Offer
NII (HNI)
6,16,77,632
Not less than 25% of the Offer
32,89,47,365 SHARES ACROSS ALL CATEGORIES · CATEGORY SPLIT AS PUBLISHED FOR THIS ISSUE · CONFIRM AGAINST THE OFFICIAL RHP
ABOUT THIS SERVICE

Cube Highways Trust is an infrastructure investment trust (InvIT) established under the Securities and Exchange Board of India (SEBI) InvIT Regulations. Formed in December 2021, the Trust was created to own, operate, and invest in infrastructure assets across India through a network of special purpose vehicles (SPVs) and holding entities. The Trust manages a broad portfolio of transportation infrastructure assets located across the country. As of the Draft Offer Document, its portfolio consists of 27 operational road projects, with plans to include four additional operational assets. These projects are held through SPVs responsible for the development, operation, maintenance, and management of highways, expressways, toll roads, and other road infrastructure. Cube Highways Fund Advisors Private Limited serves as the Investment Manager, while Cube Highways and Transportation Assets Advisors Private Limited performs the role of Project Manager. The Trust aims to deliver consistent cash distributions and long-term capital appreciation for its unitholders by investing in eligible infrastructure projects in compliance with the SEBI InvIT framework. The portfolio spans several Indian states and includes assets operating under concession agreements awarded by different government authorities. The Trust's strategy emphasizes acquiring and managing operational road infrastructure projects that provide reliable cash flows and opportunities for sustainable growth.

THE CREW · WHO IS RUNNING THIS SERVICE

ON THE ROSTER.

BOOK-RUNNING LEAD MANAGERS
4 APPOINTED
Kotak Mahindra Capital Co.Ltd., HDFC Bank Ltd., HSBC Securities & Capital Markets (India) Pvt.Ltd., JM Financial Ltd.
REGISTRAR TO THE ISSUE
NAME
Kfin Technologies Ltd.
PHONE
040-79615565
THE COMPANY
PHONE
+ 91 120 4868300
REGISTERED OFFICE
B-376, Upper Ground Floor, Nirman Vihar, New Delhi, New Delhi, 110092
DETAILS AS PUBLISHED FOR THIS ISSUE · ALLOTMENT IS HANDLED BY THE REGISTRAR, NOT BY BUYUNLISTEDSHARES · WE NEVER ASK FOR PAN OR APPLICATION DETAILS
THE ENQUIRY DESK · QUESTIONS

COMMON QUESTIONS.

What is the Cube Highways Trust InvIT IPO price band?+

The indicative price band is ₹152 per share. The binding terms are the ones in the Red Herring Prospectus (RHP).

What is the lot size of the Cube Highways Trust InvIT IPO?+

One lot is 95 shares. At the upper band of ₹152, one lot works out to ₹14,440.

How many lots can a retail investor apply for in the Cube Highways Trust InvIT IPO?+

A retail application runs from 1 lot (95 shares, ₹14,440) up to 13 lots (1,235 shares, ₹1,87,720) — the most that fits under SEBI's ₹2 lakh retail ceiling.

What is the minimum HNI application in the Cube Highways Trust InvIT IPO?+

A small-HNI (sHNI) application starts at 14 lots — 1,330 shares, ₹2,02,160. A big-HNI (bHNI) application starts at 70 lots — 6,650 shares, ₹10,10,800, above the ₹10 lakh boundary.

When does the Cube Highways Trust InvIT IPO open and close?+

The issue opened on 22 Jul 2026 and closed on 24 Jul 2026. Dates can move — the registrar and the exchange notices are the record.

When is the Cube Highways Trust InvIT IPO allotment?+

Allotment is scheduled for 29 Jul 2026. The basis of allotment is published by the registrar to the issue. BuyUnlistedShares does not accept, process or track IPO applications.

When did Cube Highways Trust InvIT list?+

Listing took place on 31 Jul 2026 on NSE, BSE.

Where will Cube Highways Trust InvIT be listed?+

Cube Highways Trust InvIT is listed on NSE, BSE. It is a mainboard issue.

How large is the Cube Highways Trust InvIT IPO?+

The issue size is ₹5000.00 Cr — an offer for sale of ₹5,000 cr. Figures are indicative and subject to the RHP.

How was the Cube Highways Trust InvIT IPO subscribed?+

The issue was subscribed 9.35× overall. By category: qib 13.2×, nii 4.74×. Subscription figures are as reported by the exchanges.

At what price did Cube Highways Trust InvIT list?+

Cube Highways Trust InvIT listed at ₹155, +1.97% against the issue price.

Who is the registrar for the Cube Highways Trust InvIT IPO?+

The registrar to the issue is Kfin Technologies Ltd. (040-79615565), cube.invit@kfintech.com.

Where can I check the Cube Highways Trust InvIT IPO allotment status?+

Allotment status is published by the registrar on its own official portal: https://ipostatus.kfintech.com/. Use the registrar's site directly — BuyUnlistedShares does not ask for PAN, application numbers or any other applicant detail.

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PRE-IPO STOCK ONLY · WE DO NOT ACCEPT IPO APPLICATIONS
Dates, price band, lot size, issue size and subscription figures are indicative and subject to the official Red Herring Prospectus (RHP). Application amounts shown in the fare table are arithmetic on the lot size and the upper band against SEBI's category thresholds — they are not an application facility and we do not accept IPO applications. GMP is unofficial grey-market chatter that changes daily — not a target, not a quote and not a recommendation. This page is information only: it is not an offer to deal and not investment advice. BuyUnlistedShares provides information and research, not buy/sell recommendations. All IPOs carry market risk — read the RHP and assess suitability before applying.
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TODAY'S INDICATIVE PRICES — PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED ₹20,400 · CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED ₹10,400 · HDFC SECURITIES LIMITED ₹7,990 · NATIONAL STOCK EXCHANGE (NSE) ₹1,975 · BOAT (IMAGINE MARKETING LIMITED) ₹895 · CHENNAI SUPER KINGS (CSK) ₹249 · BIRA 91 (B9 BEVERAGES LIMITED) ₹82 · ZEPTO ₹33 · ORAVEL STAYS (OYO ROOMS) ₹24.5 · HUTTI GOLD MINES COMPANY LIMITED ₹1,19,838 — INDICATIVE, NOT AN OFFER TO DEAL —TODAY'S INDICATIVE PRICES — PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED ₹20,400 · CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED ₹10,400 · HDFC SECURITIES LIMITED ₹7,990 · NATIONAL STOCK EXCHANGE (NSE) ₹1,975 · BOAT (IMAGINE MARKETING LIMITED) ₹895 · CHENNAI SUPER KINGS (CSK) ₹249 · BIRA 91 (B9 BEVERAGES LIMITED) ₹82 · ZEPTO ₹33 · ORAVEL STAYS (OYO ROOMS) ₹24.5 · HUTTI GOLD MINES COMPANY LIMITED ₹1,19,838 — INDICATIVE, NOT AN OFFER TO DEAL —