Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, AZB & Partners, Sidley Austin act on Cube Highways Trust ₹5,000 crore IPO

Cube Highways Trust has made an initial public offering of equity shares comprising an offer for sale by selling unitholders aggregating to ₹5,000 crore.

Cyril Amarchand Mangaldas advised Cube Highways Trust, and its Investment Manager, Cube Highways Fund Advisors Private Limited, on this IPO.

The transaction led by Yash J. Ashar (Senior Partner), Kranti Mohan (Partner) and Priyadarshini Rao (Partner), with support from Subham Jain (Senior Associate) and Associates Yash Bhale, Neha Jayesh, Nilay Raj and Aryan Pandey.

Shardul Amarchand Mangaldas & Co advised the Cube Sponsor and the Sponsor Group comprising Cube Highways and Infrastructure II Pte. Ltd., Cube Highways and Infrastructure III Pte. Ltd. and Cube Mobility Investments Pte. Ltd., as well as the Mubadala Selling Unitholder, Seventy Second Investment Company LLC.

The transaction team was led by Nikhil Naredi (Partner), with support from Harini Jambunathan (Senior Associate), Veronica Miranda (Senior Associate), Associates Pritha Bhangale and Shariba Tasneem.

The General Corporate team acting on behalf of the Cube Sponsor and Sponsor Group were led by Nivedita Tiwari (Partner), with support from Tweisha Mishra (Principal Associate).

AZB & Partners advised the book running lead managers Kotak Mahindra Capital Company Ltd, HDFC Bank Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd and JM Financial Ltd on this IPO.

The transaction was led by Janhavi Seksaria (Partner) and Mrudul Desai (Senior Associate).

Sidley Austin served as the international legal counsel to the BRLMs.

Cube Highways Trust is engaged in implementing the public-private partnership model in India's highways sector, to operate and manage highways in association with the central and state governments. It operates a portfolio of 27 road assets spanning an aggregate length of 2,005 kilometers (8,754 lane kilometers) across 12 states and one union territory in India.

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