Cube Highways Trust has announced a block‑deal sale of 4.50 crore shares, representing 3.35% of the trust’s equity, worth ₹688.1 crore at a floor price of ₹153 per share—just 0.66% below the current market price of ₹154.
The share price closed at ₹154, down 1.28% from the previous session, reflecting a modest dip as traders digest the potential dilution from the block sale. Volume figures were not disclosed, but the 1.3% fall signals a cautious reception.
Vinay C Sekar, CEO and Investment Manager, highlighted that Cube has grown from 18 to 27 operational assets, with nine acquisitions since its private listing. Seven of those came from sponsors, while two were market purchases, underscoring the trust’s dual‑strategy approach.
The trust also announced a distribution of ₹2.00 per ordinary unit for Q2, a move that may mitigate the negative sentiment from the block sale. Investors are watching whether the dividend will cushion the share price impact.
Looking ahead, Cube plans to expand its portfolio to 34 assets in the near term, primarily through sponsor deals. The board will seek approval for the block transaction in the upcoming AGM, and the market will gauge whether the asset‑growth strategy justifies the current share valuation.