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The divestment was undertaken through on-market block trades on the stock exchanges pursuant to an accelerated bookbuild process, with the units acquired by a range of institutional investors.
The transaction involved an offer for sale of approximately INR 5,000 crore, undertaken by BCI IRR India Holdings Inc., BCI IRR India Holdings Limited Partnership, Cube Highways and Infrastructure II Pte. Ltd., Cube Highways and Infrastructure III Pte. Ltd., Cube Mobility Investments Pte. Ltd. and Seventy Second Investment Company LLC.
The transaction marks the first successful conversion of a privately listed InvIT into a publicly listed InvIT in India, representing a significant milestone in the evolution of India’s listed infrastructure investment market. Continuing its streak, SAM has acted on every public offering by an InvIT/REIT this calendar year.
Shardul Amarchand Mangaldas advised Mubadala Investment Corporation (“Mubadala”) on its primary investment in units of Cube Highways Trust (“Trust”) pursuant to the