The portfolio consists of road projects spanning 648 km across Andhra Pradesh and Gujarat. Macquarie is open to selling the portfolio as a whole or in three smaller packages, depending on buyer appetite
Cube InvIT is one of the biggest infrastructure investment trusts in the country, holding a group of 25 road assets with an aggregate length of 1,940 kms spread across 12 states
The base deal size is approximately $200 million at the floor price, with an option to upsize.
If concluded, this will be the first exit by NIIF, which began operations in 2019. This will also be the second-biggest road portfolio sale this year.
The Cube InvIT's current assets under management stand at Rs 25,811 crore. The InvIT’s assets witnessed a 6.5 percent increase in traffic and an 11.9 percent increase in toll revenue from FY23 to FY24.
The company is working with advisers and may raise the capital via private placement in the next two months, the people said