Cube Highways Trust Announces Proposed Acquisition of 7 High

New Delhi, April twenty sixth, 2024: CubeHighwaysTrust(“CubeInvIT”) [BSE/NSE: CUBEINVIT], managed byCubeHighways Fund Advisors Pvt. Ltd. (the “Investment Manager / IM”) at present introduced the proposedacquisition of as much as 100% fairness shareholding in sevenfreewayproperty from Singapore based mostly CubeHighwaysand Infrastructure III Pte Ltd. andCubeHighwaysInfrastructure Pte. Ltd., the Sponsors ofCubeInvIT, in a number of tranches. Theproposedacquisitionwas accepted by the Board of Directors of the Investment Manager held on Thursday, April 25, 2024, topic to the approval of Ordinary Unitholders ofCubeInvIT.

The sevenfreewayproperty, which embody six Hybrid Annuity Model (HAM)propertyand one Build-Operate-Transfer (BOT) asset, span round 2,200 lane kms and are unfold throughout geographic footprints of Andhra Pradesh, Maharashtra, Telangana, and Tamil Nadu.

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Pankaj C. Vasani, Group CFO ofCubeInvIT, acknowledged:“Theproposedstrategic addition of these sevenpropertywill probably be a big milestone, a testomony to the boldness of our traders inCubeInvIT and complement the present portfolio ofproperty. Thesepropertyhave an enterprise worth of ₹5,172 crores as of February 29, 2024, and will probably be acquired by means of inside accruals and a combination of debt, topic to crucial approvals. After these acquisitions, the yield is predicted to develop upward of c.1.5% p.a. over a interval of subsequent 5 years.”

The Board has additionally accepted the postal poll discover to hunt the approval of Ordinary Unitholders for thisproposedacquisition. With thisacquisition, InvIT’s asset portfolio will consist of 25 diversifiedpropertyunfold throughout 13 States.

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Vinay C. Sekar, CEO ofCubeInvIT, stated,“This previous yr has been a interval of important achievements – strong income progress of over 11.5%, a distribution plan in keeping with expectations – and now this transaction will probably be aligned withCubeHighway’s technique of transferring de-risked and yield property that ship dependable returns to the CubeInvIT. Theseproperty will enhance CubeInvIT’sAssetsUnder Management (AUM) by over 20% from ₹25,024 crores as of December 31, 2023. The Net Debt/ AUM will stand round 46 per cent put up thisacquisition, offering satisfactory headroom for progress.”

The buying and selling window for dealing within the securities ofCubeInvIT shall stay closed. Theacquisitionis predicted to be accomplished topic to the satisfaction of customary closing situations, together with receipt of statutory clearances and approval of Ordinary Unitholders ofCubeInvIT.