Business
Cube Highways Trust plans Rs 5,000-cr IPO this month; eyes broader investor base
The proposed issue is structured entirely as an offer for sale (OFS), according to the draft papers.
Cube Highways Trust (Cube InvIT), which owns a portfolio of highway assets across India, had 27 operational assets spanning 8,754 lane kilometres across 12 states and one Union Territory as of March 31, 2026, with an average residual concession life of 18 years.
In a message to unitholders in the FY26 annual report, its Chief Executive Officer Vinay C Sekar said the trust’s strategy remains focused on disciplined acquisitions, predictable distributions, financial prudence and operational efficiency.
About 85 per cent of the portfolio comprises toll road assets that benefit from traffic growth and inflation-linked toll revisions, and the remaining 15 per cent consists of annuity assets backed by contracted payments from the National Highways Authority of India (NHAI).
Cube InvIT declared a distribution per unit of Rs 13.77 for FY26, taking total distributions for the year to Rs 1,851 crore.
Its net debt stood at Rs 17,768 crore at the end of March, while its net debt-to-enterprise value ratio was 46.82 per cent. Moreover, assets under management rose to Rs 36,842 crore, supported by nine acquisitions during the fiscal year.
The trust has also signed commitment letters for four highway projects with a combined enterprise value of about Rs 7,300 crore, which would expand its portfolio to 31 assets across 13 states and one Union Territory. It has also secured a right of first offer on three sponsor assets, providing an additional pipeline for future growth.
Business
Russia stocks higher at close of trade; MOEX Russia Index up 0.75%

Russia stocks higher at close of trade; MOEX Russia Index up 0.75%
Business
Japan to vow coordination with US on weak yen in historic battle

Japan to vow coordination with US on weak yen in historic battle
Business
Ukrainian drone kills one child, injures two in playground in Russia’s Belgorod region

Ukrainian drone kills one child, injures two in playground in Russia’s Belgorod region
Business
AstraZeneca and Bristol-Myers Squibb in talks over potential merger – Report

AstraZeneca and Bristol-Myers Squibb in talks over potential merger – Report
Business
Idaho mass shooter died from self-inflicted gunshot, police say

Idaho mass shooter died from self-inflicted gunshot, police say
Business
Growth slows in Perth housing market
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Business
AstraZeneca holds talks with Bristol Myers Squibb on $400 billion megadeal, FT reports

AstraZeneca holds talks with Bristol Myers Squibb on $400 billion megadeal, FT reports
Business
These 9 equity mutual funds delivered over 10% returns in July. Did you invest in any of them?
Technology-focused mutual funds dominated the performance charts in July, with nine equity schemes delivering returns of over 10%. HDFC Technology Fund topped the list with a 16.91% gain, while international funds accounted for most of the double-digit losers during the month.
Business
US lawmaker Kaptur injured in car crash, her office says

US lawmaker Kaptur injured in car crash, her office says
Business
11 penny stocks surged up to 198% in 6 months. Do you own any?
Eleven penny stocks delivered multibagger returns of up to 198% over the past six months. Screened using a market capitalisation below Rs 1,000 crore, a share price under Rs 20, and a minimum latest trading volume of 5 lakh shares, these low-priced stocks stood out for their strong price momentum despite the high risks typically associated with the segment.
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