Cube Highways and Infrastructure (Cube), a Singapore-based company investing in road and highway projects, has raised Rs 5,226-crore through a privately placed infrastructure investment trust (InvIT). Canadian pension investment manager British Columbia Investment, Abu Dhabi’s sovereign investor Mubadala and domestic institutional investors subscribed to the offering, the company said in a release. Through the InvIT, Cube has raised Rs 3,803 crore in fresh capital.
The remaining Rs 1,423 crore was secondary share sale by sponsor Cube, which is backed by I Squared Capital, a wholly-owned subsidiary of the Abu Dhabi Investment Authority, International Finance Corporation, and a consortium of Japanese investors.
