Cube Highways Trust Block Deal: 4.5 crore units worth ₹689.5 crore change hands

As many as 4.5 crore units of Cube Highways Trust worth ₹689.5 crore changed hands at ₹153 per unit in a block deal window on the Bombay Stock Exchange on Tuesday, September 29.

The official buyers and sellers of the transaction are not yet known.

On Monday, CNBC-TV18 reported, citing sources that Seventy Second Investment Company LLC was set to sell up to 44.97 million units or 3.35% stake in the company for ₹688.1 crore. The floor price was set at ₹153 per unit, sources said.

In July this year, Cube Highways Trust's CEO Vinay C Serkar told CNBC-TV18 that the company expects to expand its portfolio to 34 assets in the near term as it continues to acquire highway projects from its sponsors while also exploring opportunities in the open market.

Ever since its private listing three years ago till July this year, the trust acquired nine asset. Sekar said the company had grown from 18 to 27 assets and had signed four more.

The infrastructure investment trust (InviT) had opened its ₹5,000 crore offer for sale on July 22 said. Sekar said the public listing was aimed at widening its domestic investor base ithout raising fresh capital.

Cube Highways Trust ended the previous session 1.2% lower at ₹154.02 per unit.

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