Cube Highways Trust Announces Price Band for Initial Public Offering; Issue Opens on July 22, 2026

Ahmedabad: Cube Highways Trust (“Cube InvIT”) [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Private Limited (the “Investment Manager”), today announced the price band for its Initial Public Offering (“Offer”) as it transitions from a privately listed Investment Infrastructure Trust (“InvIT”) to a publicly listed InvIT.

The price band for the Offer has been fixed at ₹151 to ₹152 per Unit. The Offer comprises an Offer for Sale of up to xx Units, aggregating up to ₹ 5,000 crores.

The Bid/Offer will open on Wednesday, July 22, 2026 and close on Friday, July 24, 2026. Bidders (other than Anchor Investors and Strategic Investors) can bid for a minimum of 95 Units and in multiples of 95 Units thereafter.

The Trust has also entered into Unit Subscription Agreements with strategic investors on July 13, 2026. Under these agreements, the strategic investors have agreed to subscribe to 82,236,840 units at an allocation price of up to ₹152 per unit, aggregating ₹12,500 million (₹1,250 crore), subject to the terms of the Offer.

The Strategic Investors are:

• Prazim Trading and Investment Company Private Limited – 62,500,000 units aggregating up to ₹9,500 million (₹950 crore).
• HDFC Life Insurance Company Limited – 6,578,947 units aggregating up to ₹1,000 million (₹100 crore).
• HDFC Pension Fund Management Limited – 6,578,947 units aggregating up to ₹1,000 million (₹100 crore).
• Axis Max Life Insurance Limited – 3,289,473 units aggregating up to ₹500 million (₹50 crore).
• WhiteOak Capital REIT & InvIT Alternatives Fund I – 3,289,473 units up to aggregating ₹500 million (₹50 crore).

The Offer is being made through the Book Building Process in accordance with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended, and the applicable provisions of the SEBI Master Circular for Infrastructure Investment Trusts.

The Sponsor of the Trust is Cube Highways and Infrastructure V Pte. Ltd., and the Trustee is Axis Trustee Services Limited.

The Book-Running Lead Managers to the Offer are Kotak Mahindra Capital Company Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited and JM Financial Limited.

The Registrar to the Offer is KFin Technologies Limited. The domestic legal counsel to the Trust and the Investment Manager is Cyril Amarchand Mangaldas.