GMP IPO Watch
Cube Highways Trust IPO 2026: Infrastructure Investment Opportunity, Toll Road Portfolio, Financial Review & Long-Term Outlook
Cube Highways Trust is entering the capital market with its IPO, offering investors an opp...
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C
Mainboard IPO
LISTED
NSE, BSE
CUBE
Cube Highways Trust IPO
Cube Highways Trust IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Live GMP Today
₹0
+0.0%
Est. Listing: ₹152.00
Price Band
₹151 - ₹152
Per equity share
Lot Size
95 Shares
Min Invest: ₹14,440
Issue Size
₹5,000 Cr
Total Public Offering
Issue Dates
21 July 2026 – 23 July 2026
Bidding period
Subscription
4.94x
Total overall demand
Cube Highways Trust IPO Details
Key facts at a glance| IPO Open Date | 21 July 2026 | IPO Close Date | 23 July 2026 |
|---|---|---|---|
| Basis of Allotment | 26 July 2026 | Listing Date | 28 July 2026 |
| Price Band | ₹151 - ₹152 per share | Face Value | ₹10 per share |
| Market Lot Size | 95 Shares | Min Investment (Retail) | ₹14,440 |
| Total Issue Size | ₹5,000 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | — | Offer for Sale (OFS) | — |
| Listing At | NSE, BSE | Issue Category | Mainboard Issue |
| Registrar | TBA | ||
Cube Highways Trust IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 21 July 2026 | Confirmed |
| IPO Close Date | 23 July 2026 | Confirmed |
| Basis of Allotment | 26 July 2026 | Tentative |
| Initiation of Refunds | 28 July 2026 | Tentative |
| Credit of Shares to Demat | 28 July 2026 | Tentative |
| IPO Listing Date | 28 July 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 24 July 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Cube Highways Trust IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 95 Shares | ₹14,440 |
| Retail (Max) | 13 Lots | 1,235 Shares | ₹1,87,720 |
| S-HNI (Min) | 14 Lots | 1,330 Shares | ₹2,02,160 |
| S-HNI (Max) | 69 Lots | 6,555 Shares | ₹9,96,360 |
| B-HNI (Min) | 70 Lots | 6,650 Shares | ₹10,10,800 |
Cube Highways Trust IPO Live GMP & Movement History
Daily unofficial grey market trends
Current Grey Market Premium
₹0 +0.0%
Estimated Listing Price
₹152.00
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 24 Jul 2026 | ₹0 | ₹152.00 | +0.00% |
| 21 Jul 2026 | ₹0 | ₹152.00 | +0.00% |
Disclaimer: Grey Market Premium (GMP) figures are purely unofficial and indicative rates traded in the unregulated grey market. GMP is highly volatile and does not guarantee the actual listing price. Always consult a SEBI registered investment advisor before bidding.
Cube Highways Trust IPO Subscription Status
Demand breakdown by investor category
Retail
—
QIB
5.90x
NII / HNI
—
Total
4.94x
About Cube Highways Trust
Cube Highways Trust is an infrastructure investment trust (InvIT) that owns and invests in road infrastructure assets across India through special purpose vehicles (SPVs). The Trust primarily invests in operational highway projects developed under concession agreements with the National Highways Authority of India (NHAI) and state authorities across multiple models, including Toll-Operate-Transfer (TOT), Design-Build-Finance-Operate-Transfer (DBFOT), Build-Operate-Transfer (BOT) Annuity and Hybrid Annuity Model (HAM). As of March 31, 2026, it had investments in 27 road assets, with all projects owned, operated and maintained through its SPVs. The Trust is managed by Cube Highways Fund Advisors Private Limited and follows the regulatory framework applicable to InvITs. Its objective is to generate returns by investing in eligible infrastructure assets and related investments in accordance with the InvIT Regulations and its trust documents.
Key Strengths
- Operates a diversified portfolio of highway assets across multiple states and concession models.
- Uses proprietary digital tools for real-time asset monitoring and performance benchmarking.
- Operational efficiency initiatives have helped keep operation and maintenance costs stable.
- Follows a diversified procurement strategy with multiple suppliers to improve cost efficiency and reduce supply risks.
- Long-term procurement arrangements and bulk purchasing help manage maintenance costs and improve supply security.
Key Risks
- Competing expressways may divert traffic and reduce toll revenue on some road assets.
- Failure to keep pace with new technologies could reduce competitiveness and project opportunities.
- Extreme weather events such as floods and cyclones can damage roads and disrupt traffic.
- Climate-related uncertainties may increase maintenance costs and affect long-term traffic and revenue assumptions.
- Disruptions in the supply of key materials can delay maintenance and infrastructure activities.
Cube Highways Trust IPO Reservation & Share Quotas
Cube Highways Trust InvIT has allocated units among different investor categories in accordance with the applicable SEBI regulations for Infrastructure Investment Trust (InvIT) public issues. The reservation structure is primarily divided between Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs).
The category-wise allocation is designed to encourage institutional participation while also providing an opportunity for eligible non-institutional investors to participate in the public issue.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 75% |
| NII Shares Offered | – Shares | 25% |
Cube Highways Trust IPO Important Dates
The Cube Highways Trust InvIT IPO will open for public subscription on July 22, 2026 and close on July 24, 2026. Eligible investors can submit their applications during this period through the ASBA process or UPI-supported platforms provided by registered brokers and banks.
The basis of allotment is expected to be finalized on July 27, 2026. Refunds to unsuccessful applicants and the credit of allotted units to successful investors' demat accounts are scheduled for July 28, 2026. The units of Cube Highways Trust InvIT are proposed to be listed on both the BSE and NSE on July 29, 2026.
| Event | Date |
|---|---|
| IPO Open Date | July 22, 2026 |
| IPO Close Date | July 24, 2026 |
| Basis of Allotment | July 27, 2026 |
| Refunds Initiation | July 28, 2026 |
| Credit to Demat Account | July 28, 2026 |
| IPO Listing Date | July 29, 2026 |
Cube Highways Trust IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 22 Jul 2026 |
| IPO Close Date | 24 Jul 2026 |
| Basis of Allotment | 27 Jul 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 29 Jul 2026 |
Note: The timeline for Cube Highways Trust IPO is tentative and subject to change.
Cube Highways Trust Objects of the Issue & Utilisation of Proceeds
The detailed objectives of the Cube Highways Trust InvIT public issue have not yet been disclosed. As per the available information, the issue is primarily structured as an Offer for Sale (OFS), and additional details regarding the utilisation of proceeds, if any, are expected to be provided in the final offer documents.
Investors are advised to refer to the updated Red Herring Prospectus (RHP) or official filings once available for complete information regarding the purpose of the issue and the proposed use of funds.
| Purpose | Status |
|---|---|
| Objects of the Issue & Utilisation of Proceeds | To be updated soon |
Note: This section will be updated after the company releases the final offer document containing detailed information on the objectives of the public issue and the utilisation of proceeds.
Cube Highways Trust Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Cube Highways Trust Company Financial Report
Cube Highways Trust InvIT has reported a strong financial base backed by its portfolio of operational highway assets. The financial statements indicate steady growth in revenue and a significant asset base, reflecting the scale of the infrastructure investment trust and its road asset portfolio.
The table below summarizes the InvIT's recent financial performance, including revenue, expenses, profit after tax (PAT), and total assets. These figures help investors evaluate the operational and financial position of the trust before investing in the public issue.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹3,074.11 | ₹3,760.95 | ₹705.92 | ₹24,625.75 |
| 2025 | ₹3,453.15 | ₹3,503.47 | ₹35.72 | ₹28,000.16 |
| 2026 | ₹4,359.03 | ₹4,034.34 | ₹216.72 | ₹29,398.47 |
Amount in ₹ Crores: The above financial figures are based on the latest available financial statements of Cube Highways Trust InvIT and are intended to provide investors with an overview of the trust's financial performance before the public issue.
Cube Highways Trust Company Financial Report
To Be Updated Soon
Cube Highways Trust Company Valuation & Key Performance Indicators
To Be Updated Soon
Cube Highways Trust Peer Group Comparison
To Be Updated Soon
Cube Highways Trust IPO FAQs
Cube Highways Trust IPO opens for subscription on 21 July 2026 and closes on 23 July 2026.
The price band for Cube Highways Trust IPO is set at ₹151.00 to ₹152.00 per share.
The minimum market lot size is 95 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 95 Shares (₹14,440).
The latest Grey Market Premium (GMP) for Cube Highways Trust IPO is ₹0. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Cube Highways Trust IPO is tentatively scheduled for 26 July 2026, and shares are expected to list on the stock exchanges on 28 July 2026.
The registrar details will be confirmed in the official prospectus.
Cube Highways Trust IPO Analysis & Articles
