Cube Highways Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Cube Highways Trust (InvIT) has completed the acquisition of 100% equity in two operational annuity road projects — Quazigund Expressway Pvt Ltd and Athaang Jammu Udhampur Highway Pvt Ltd — from National Investment and Infrastructure Fund (NIIF). The two assets, spanning ~80 km in Jammu & Kashmir, have a combined enterprise value of ₹4,185 crore and over six years of residual concession life backed by fixed semi-annual NHAI annuity payments. The deal is expected to be accretive to net distributable cash flows by ~₹2.3 per unit annually over the next five years. Post-acquisition, the Trust's AUM will grow to ₹36,451 crore (from ₹32,266 crore as of March 2025), with annuity revenue rising to 33% of total revenue.
Positive for unitholders — the deal expands the Trust's portfolio with de-risked, traffic-insulated cash flows and boosts per-unit distributions, while the AAA credit rating and ~49% Net Debt/AUM ratio suggest room for further accretive acquisitions.