Stories
Seventy Second Investment to Sell 3.35% Stake in Cube Highways Trust via Block Deal
- •Seventy Second Investment Co is set to sell 4.50 crore shares, representing a 3.35% equity stake, in Cube Highways Trust through a block deal.
- •The offer size for the transaction is estimated at –688.1 crore, with a floor price of –153 per share.
- •The floor price offers a discount of up to 0.66% compared to the current market price of Cube Highways Trust shares.
- •Cube Highways Trust aims to expand its portfolio to 34 assets, acquiring projects from sponsors and exploring open market opportunities.
- •The trust currently manages 27 operational assets across 12 states and one Union Territory, including 18 toll road assets and nine annuity assets.
Key Questions Answered
Seventy Second Investment Co is expected to sell 4.50 crore shares, representing a 3.35% equity stake, in Cube Highways Trust through a block deal. The total offer size is pegged at ₹688.1 crore with a floor price of ₹153 per share, reflecting a discount of up to 0.66% against the current market price.
Cube Highways Trust currently manages a portfolio of 27 operational assets spread across 12 states and one Union Territory. This portfolio includes 18 toll road assets and nine annuity assets, with plans to expand the total count to 34 assets in the near future.
Cube Highways Trust pursues both sponsor acquisitions and open market purchases. Sponsor assets serve as the primary source of growth because they are acquired after being de-risked and satisfying the trust's strict quality standards.
