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Cube Highways Trust InvIT, Indo MIM Lead IPO Slate Next Week
Cube Highways Trust's ₹5,000-crore InvIT and three IPOs – Indo MIM, Lohia Corp, Xtranet Technologies – open for subscription next week. Anchor bidding starts July 21.
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Four public issues will open for subscription next week, led by Cube Highways Trust's ₹5,000-crore InvIT and the initial public offerings of Indo MIM, Lohia Corp, and Xtranet Technologies.
Cube Highways Trust opens its InvIT public issue on July 22 at a price band of ₹151-152 per unit. Anchor investor bidding is set for July 21. The issue is a 100% book-built offer for sale by existing unitholders, marking the trust's shift from a privately listed InvIT to a publicly listed platform. Ahead of the offering, Cube Highways Trust raised ₹1,250 crore from strategic investors through unit subscription agreements, according to the trust's filings.
Indo MIM's IPO combines a fresh issue of ₹500 crore with an offer for sale of up to 6.82 crore shares by existing shareholders. Market sources said the total issue could exceed ₹3,500 crore. The precision engineering company, which runs 15 factories across India, the US, the UK, and Mexico, plans to use ₹400 crore from the fresh issue to repay debt. The rest goes to general corporate purposes. Indo MIM serves the automotive, defence, medical, consumer, and aerospace sectors.