Cube Highways Trust is preparing for its transition to a publicly listed Infrastructure Investment Trust (InvIT) with plans to expand its portfolio from the current 27 operational highway assets to 34 assets over the next few years. The growth strategy will be driven through acquisitions of operational road projects backed by stable cash flows, senior company officials said.
Speaking ahead of the Trust’s public issue, Vinay Sekar, Chief Executive Officer of Cube Highways Trust, said the InvIT has a strong pipeline of acquisition opportunities and intends to continue expanding its portfolio after listing. The Trust currently manages 27 road assets across 12 states and one Union Territory, covering around 2,005 km of highways under a mix of toll and annuity concession models.
Sekar noted that the Trust has identified 34 assets as a medium-term portfolio target, supported by a robust pipeline of operational infrastructure projects. He added that Cube Highways will continue to focus on acquiring high-quality assets capable of generating predictable and sustainable cash flows for unitholders.
The Trust’s ₹5,000-crore public issue, which opened on July 22 and closes on July 24, marks the first conversion of a privately listed InvIT into a publicly listed InvIT in India. The issue is entirely an Offer for Sale (OFS), with no fresh capital being raised by the Trust. Existing unitholders are diluting part of their holdings to broaden the investor base and improve liquidity.
According to the management, the public listing is expected to enhance access to capital markets and support the Trust’s long-term acquisition strategy as India’s highway infrastructure sector continues to offer opportunities for InvIT-led investment and asset monetisation.