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Cube Highways Trust raises Rs 1,150 crore with senior secured NCDs

3 October 2026Source: Economic Times 1 min read

Quick Summary

Cube Highways Trust issued senior secured non‑convertible debentures, raising Rs 1,150 crore at a 7.50% annual coupon payable quarterly for five years. Axis Bank Limited and ICICI Bank Limited were key investors, and the proceeds will be used for debt refinancing and ongoing capital projects as part of a larger Rs 4,500 crore financing plan.

Key Takeaways

Raised Rs 1,150 crore via senior secured NCDs
Coupon rate is 7.50% per annum, payable quarterly for five years
Axis Bank Limited and ICICI Bank Limited were key investors
Proceeds will fund debt refinancing and ongoing capital projects

Why It Matters

The issuance shows that large infrastructure trusts can raise substantial debt capital, offering investors a fixed‑income option with a 7.5% yield. It also signals continued funding for infrastructure projects, which can impact related sectors.

The IPO in numbers

The IPO is priced between Rs 151 and Rs 152 per share, with a total issue size of Rs 2,076.16 crore. Bidding is open from 22 July 2026 to 24 July 2026.

Figures from CAPITA1's own IPO record, not from the news report.

The headline, summary, takeaways and analysis on this page are written by CAPITA1's AI from the source report. For educational purposes only. Not investment advice.

The IPO in this story