Five prominent firms including Kotak Mahindra Bank, Mahindra & Mahindra, and Ask Financial Holdings acquired a 2.7% stake worth ₹534 crore in infrastructure investment trust Cube Highways Trust from I Squared Capital entities. According to reports from Moneycontrol, the transaction involved Cube Mobility Investments selling 2.33 crore units for ₹340.91 crore and I Squared Capital entities offloading 1.32 crore units for ₹192.72 crore. The units were exchanged at a price of ₹146 per unit during open market transactions on March 30. This exit aligns with I Squared Capital's reported global strategy of shifting focus towards emerging energy sectors and divesting mature infrastructure assets.
The acquisition was led by Kotak Mahindra Bank, which purchased 1.9 crore units for ₹278.49 crore, followed by ASK Financial Holdings acquiring 41.5 lakh units for ₹60.59 crore. As reported by Moneycontrol, Infrastructure and Real Assets Fund bought 61.75 lakh units for ₹90.15 crore, while Neo Real Asset Yield Fund acquired 37.5 lakh units for ₹54.75 crore. Mahindra & Mahindra completed the transaction with 34 lakh units for ₹49.64 crore. The sellers included Cube Mobility Investments and Cube Highways and Infrastructure III, which reduced their holdings in the trust.
The transaction occurred alongside significant activity in other securities, with Shree Digvijay Cement Company shares rallying 13.67% to ₹63.94 on the BSE. According to Moneycontrol, True North Fund VI LLP sold 4.46% stake for ₹42.2 crore, while India Resurgence Fund acquired additional 4.2% stake through two schemes for ₹49.99 crore. IRM Energy shares rose 2.46% to ₹180.39 after IRM Trust bought an additional 0.62% stake for ₹4.5 crore. Beyond infrastructure and cement sectors, BNP Paribas Financial Markets acquired stakes in Siemens Energy India (₹43.36 crore), GMR Airports (₹31.12 crore), LG Electronics India (₹36.01 crore), and Max Healthcare Institute (₹57.04 crore). Goldman Sachs Bank Europe acquired shares in Bharat Heavy Electricals (₹31.01 crore) and Jio Financial Services (₹62.22 crore) from Morgan Stanley.
