Cube Highways Trust has launched an Initial Public Offering (IPO) with an offer for sale by existing unitholders amounting to ₹5,000 crore. Cyril Amarchand Mangaldas provided legal counsel to Cube Highways Trust and its Investment Manager, Cube Highways Fund Advisors Private Limited, for this significant IPO. The legal team was spearheaded by Senior Partner Yash J. Ashar, Partner Kranti Mohan, and Partner Priyadarshini Rao, with additional support from Senior Associate Subham Jain and Associates Yash Bhale, Neha Jayesh, Nilay Raj, and Aryan Pandey.
AZB & Partners served as legal advisors to the book-running lead managers for this IPO, which included Kotak Mahindra Capital Company Ltd, HDFC Bank Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, and JM Financial Ltd. The AZB & Partners team was led by Partner Janhavi Seksaria and Senior Associate Mrudul Desai. Meanwhile, Sidley Austin took on the role of international legal counsel to the book-running lead managers.
Cube Highways Trust is a prominent player in India’s highway sector, implementing the public-private partnership model to operate and manage highways in collaboration with central and state governments. The trust oversees a portfolio comprising 27 road assets, which collectively span a total length of 2,005 kilometers (equivalent to 8,754 lane kilometers) across 12 states and one union territory within India.
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