Cube Highways Fund Advisors approves preferential unit issuance for acquisitions
Cube Highways Trust · Transport Infrastructure
What the filing says
- Board approved preferential unit issuance to Cube Highways and Infrastructure V Pte. Ltd. and Cube Highways and Infrastructure II Pte. Ltd. for acquiring Devanahalli Tollway, Western MP Infrastructure & Toll Roads, and Chenani Nashri Tunnelway.
- Acquisitions subject to unitholder approval, final terms, and all regulatory and statutory clearances.
- Acquisition of Baharampore-Farakka Highways Limited deferred pending completion of conditions precedent.
Why it's rated notable: The filing gives in-principle board approval for a preferential unit issue to the sponsor for acquisitions of Devanahalli Tollway, 95% of Western MP Infrastructure and Chenani Nashri Tunnelway, but states no amount and makes the issue subject to unitholder and regulatory approvals.
Original filing
Reg 23(5)(i): Disclosure of material issue
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More from Cube Highways Trust
- Fundraise / allotmentNotableCube Highways Trust allots ₹1,150 crore senior secured NCDs at 7.50% coupon
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Summary written by Arthneeti from the company's filing with the stock exchange; check the original filing for full details. Arthneeti is a research and analytics platform, not a SEBI-registered investment adviser, and nothing here is a recommendation to buy or sell.