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Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors Pvt Ltd, is transitioning from a privately listed to publicly listed Infrastructure Investment Trust. Operates 27 road assets spanning 8,754 lane km across India (Andhra Pradesh Expressway, DA Toll Road, Farakka-Raiganj Highways, Ghaziabad Aligarh Expressway, Jhansi-Lalitpur Tollway, Kanyakumari-Etturavattam Tollway, Mahua Bharatpur Expressways, N.A.M. Expressway, Nelamangala Devihalli Expressway, Walayar Vadakkencherry Expressways and others). Sponsor: Cube Highways and Infrastructure V Pte Ltd. Trustee: Axis Trustee Services Ltd. Entirely an Offer for Sale by existing unitholders (BCI IRR India Holdings, Seventy Second Investment Company, sponsor entities) - no fresh capital raised by the trust. Valued at ~₹20,430 Cr at upper band. Secured ₹1,250 Cr from 5 strategic investors (Prazim Trading and Investment Co, HDFC Life, HDFC Pension Fund, Axis Max Life, WhiteOak Capital) ahead of the offer. NOTE: this is a unit-based InvIT offering (offer for sale of existing units, transitioning from private to public listing), structurally different from a typical equity IPO - retail quota is 0%.