 "Cube Highways files document for privately placed Rs 5,226-crore InvIT")
Cube Highways and Infrastructure (Cube), a Singapore-based company investing in road and highway projects, has filed an offer document for its Rs 5,226-crore privately-placed infrastructure investment trust (InvIT). The InvIT Cube Highways Trust will raise Rs 3,803 crore in fresh capital and the remaining Rs 1,423 crore will of secondary share sale by sponsor Cube, which is backed by I Squared Capital, a wholly-owned subsidiary of the Abu Dhabi Investment Authority, International Finance Corporation, and a consortium of Japanese investors.
The InvIT has an initial portfolio that consists of 18 road assets aggregating to 1,424 km, located across 11 states in India. Cube is the first privately-placed InvIT launched in 2023. Last calendar saw the launch of three InvITs. According to reports, Canada's British Columbia Investment Management Corp, Abu Dhabi's Mubadala, Larsen & Toubro and SBI Mutual Fund have invested in the Cube InvIT.