Cube Highways Trust leads four Indian public issues this week
A Rs 5,000-crore infrastructure trust and three mainboard companies are set to list in India, underscoring sustained primary market momentum with 32 maiden offerings already launched this year.
India’s primary market is set to absorb four new public issues this week, headlined by the Rs 5,000-crore listing of Cube Highways Trust. The flurry of activity brings the total number of maiden public offerings in the country to 32 so far in 2026, highlighting continued issuer confidence in the equity capital markets.
Cube Highways Trust will open its InvIT public issue on July 22 and close on July 24, with anchor investor bidding scheduled for the day prior. Pricing for the trust has been set between Rs 151 and Rs 152 per unit for an offering that is a 100% book-built sale by existing unitholders. Ahead of this transition from a privately listed to a publicly listed platform, the trust secured Rs 1,250 crore from strategic investors through unit subscription agreements.
A day later, on July 23, three mainboard initial public offerings will open for subscription. The batch includes Indo MIM, Lohia Corp, and Xtranet Technologies, all of which will close on July 27 following anchor bidding on July 22. The trio presents distinct capital-raising structures and sector exposures for institutional and retail investors.
Indo MIM, established in 1996, operates 15 manufacturing facilities across India, the US, the UK, and Mexico. The company supplies the automotive, defence, medical, consumer, and aerospace sectors. Lohia Corp’s offering is entirely an offer for sale of up to 2.59 crore equity shares, meaning the technical textiles machinery manufacturer will not receive any proceeds from the listing.
In contrast, Xtranet Technologies is raising fresh capital through a Rs 170-crore issue with no offer-for-sale component. The IT services provider, founded in 2002, plans to use the funds for debt repayment, purchasing hardware and systems, and covering working capital needs. The company provides end-to-end enterprise applications, digital services, and managed services.
The mixed nature of this week's issuances—ranging from a large infrastructure divestment to a small-cap IT capital raise—signals that Indian market participants continue to support diverse fundraising avenues. Investors will likely watch the subscription demand for Cube Highways as a barometer for broader appetite in the infrastructure segment.
