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Cube Highways Trust InvIT IPO opens July 22 and closes July 24

The IPO has a ₹151-152 price band, and it raised ₹1,687.5 crore from anchor investors before the public subscription window opens.

Reported · Written up by our desk · Emerging Markets

Cube Highways Trust InvIT is opening for public subscription on Wednesday, July 22, and the offering will close on Friday, July 24, according to LiveMint Markets. The issue’s price band has been set at ₹151 to ₹152 per unit.

Ahead of the public launch, Cube Highways Trust, which is managed by Cube Highways Fund Advisors and sponsored by Cube Highways and Infrastructure V, raised ₹1,687.5 crore from anchor investors on July 21. The InvIT allotted 11.1 crore units to 59 anchor investors at the upper end of the price band.

The anchor allocation included 4.14 crore units allotted to 12 mutual fund houses across 26 schemes, with participation from firms such as HDFC AMC, SBI Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund, and Kotak Mahindra AMC. Global institutional investors including Citigroup and Morgan Stanley also participated in the anchor book.

The InvIT has set its lot size at 95 units, with bids allowed in multiples of 95 thereafter, and it reserved up to 75% for Qualified Institutional Buyers and at least 25% for Non-Institutional Investors. The tentative allotment date is July 27, refunds and demat credit are expected on July 28, and listing on the BSE and NSE is expected on July 29, with IPO GMP reported at ₹0.

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