Mitsubishi Cube Highways

Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt Ltd has approved Rs 3.94 per unit distribution to ordinary unitholders aggregating Rs 508 crore for Q4 FY24. The per unit distribution comprises Rs 1.79 as interest, 20 paise as dividend, Rs 1.94 as repayment of SPV loan and 1 paisa as treasury income, it said in a statement. "The Board of Directors of the Investment Manager has declared a distribution per unit (DPU) of Rs 3.94 to ordinary unitholders, amounting to a total distribution amount of Rs 508 crore," the statement said. The trust said the annual DPU of Rs 10.09 declared for FY24 comprises Rs 7.10 per unit as interest, 99 paise as dividend, Rs 1.94 as repayment of SPV loan and 6 paise as treasury income. Cube InvIT CEO Vinay Sekar said,"We plan to acquire seven more road assets, subject to requisite regulatory and unitholder approvals, of which six are based on NHAI's Hybrid Annuity Model where the revenues are not contingent on traffic and hence would contrib

Cube Highways Trust (Cube InvIT) managed by Cube Highways Fund Advisors Pvt Ltd on Wednesday declared a Distribution Per Unit (DPU) of Rs 2 to ordinary unitholders for the September quarter. Cube InvIT's total consolidated income for the April-September period stood at Rs 151.51 crore, while the consolidated Earnings Before Interest, Taxes, Depreciation (EBITDA) for the period was Rs 918.24 crore. "We are pleased that the positive momentum continues and Q2 distribution is on track," Cube InvIT group CFO Pankaj Vasani said. According to a statement, Cube InvIT had issued 129,03,46,112 ordinary units, and consequently, a total amount of Rs 2,58.0.6 crore will be distributed to the ordinary unitholders. Cube Highways Trust is engaged in implementing 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.

The sale of the entire road portfolio of Reliance Infrastructure is anticipated by the end of this month

Cube Highways Trust (Cube InvIT) has posted a consolidated income of Rs 781.5 crore for the quarter ended on June 30, 2023. Earning before interest tax depreciation and amortisation was Rs 422.89 crore during the period under review, Cube InvIT said. These are its first quarterly earnings as the investment trust was listed in India in April 2023. The Board of the Investment Manager has also declared a distribution per unit (DPU) of Rs 2.15 to ordinary unitholders for the first quarter of FY 2023-24. The record date for the distribution is August 11, 2023, and the distribution payment will be made on or before August 25, 2023, he said. Cube Highways Trust has a diversified portfolio of 18 toll and annuity road assets with an aggregate length of 1,423.60 kilometres. These road assets are located across 11 states in India. The Trust is engaged in implementing the public-private partnership (PPP) model in the country's highways sector to operate and manage highway projects in associa

Road asset sale to reduce Rel Infra debt by Rs 2,000 cr

Canadian pension investment manager British Columbia Investment, Abu Dhabi's sovereign investor Mubadala and domestic institutional investors subscribed to the offering, the company said in a release

HCC Group said it has signed an agreement with Cube Highways to sell Baharampore-Farakka Highways Ltd (BFHL) at an enterprise value of Rs 1,279 crore.

Set up a new SPV pursuant to the substitution rights of the senior lenders in the concession agreement

Sale is part of HCC's larger effort to pare debt at company level. A separate process to sell an SPV that holds half the firm's debt and significant claims is also underway

Lanco is in bankruptcy court and unable to service its debt

The National investment and Infrastructure Fund quoted Rs 4,230 crore while Mumbai-based IRB quoted Rs 3,510 crore

Deal is estimated at Rs 2,500 cr