Cube Highways Trust Invit Ipo
Cube Highways Trust InvIT IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Kotak Mahindra Capital Company Limited
HDFC Bank Limited
HSBC Securities and Capital Markets (India) Private Limited
JM Financial Limited
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | July 22, 2026 |
| IPO Close Date | July 24, 2026 |
| Face Value | ₹[.] Per Equity Share |
| IPO Price Band | ₹151 to ₹152 Per Share |
| Issue Size | Approx ₹5000 Crores |
| Offer for Sale: | Approx 32,89,47,368 Equity Shares |
| Issue Type | Book build Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 95 | ₹14,440 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 11,10,19,565 Shares | -% |
| QIB (Ex. Anchor) | 7,45,03,370 Shares | 75% |
| NII Shares Offered | 6,20,86,110 Shares | 25% |
| Anchor Bidding Date | July 21, 2026 |
| Anchor Investors List | |
| Shares Offered | 11,10,19,565 Shares |
| Anchor Size | 1,687.50 Cr. |
| lock-in period end date 50% shares (30 Days) | Aug 26, 2026 |
| lock-in period end date 50% shares (90 Days) | Oct 25, 2026 |
| IPO Open Date: | July 22, 2026 |
| IPO Close Date: | July 24, 2026 |
| Basis of Allotment: | July 29, 2026 |
| Refunds: | July 30, 2026 |
| Credit to Demat Account: | July 30, 2026 |
| IPO Listing Date: | July 31, 2026 |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,34,40,69,762 | -% |
| Promoter Holding Post Issue | 1,34,40,69,762 | -% |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹3074.11 | ₹3760.95 | ₹705.92 | ₹24,625.75 |
| 2025 | ₹3453.15 | ₹3503.47 | ₹35.72 | ₹28,000.16 |
| 2026 | ₹4,359.03 | ₹4034.34 | ₹216.72 | ₹29,398.47 |
| KPI | Values |
| ROE: | -% |
| ROCE: | -% |
| EBITDA Margin: | 74.20% |
| PAT Margin: | -% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹1.61 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | -% |
| Net Asset Value (NAV): | ₹145.77 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| IRB Infrastructure Trust | – | – | -% | 319.73 | – Cr. |
| National Highways Infra Trust | – | – | -% | 150.50 | – Cr. |
| Vertis Infrastructure Trust | – | – | -% | 106.80 | – Cr. |
| Interise Trust | – | – | -% | 117.50 | – Cr. |
| Shrem InvIT | – | – | -% | 88.12 | – Cr. |
| Oriental InfraTrust | – | – | -% | 111.24 | – Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |