Cube Mobility pares Cube Highways stake for Rs 615 cr

New Delhi, Jun 26 (PTI) Singapore-based Cube Mobility Investments on Thursday divested a 3.62 per cent unitholding in Cube Highways Trust for Rs 615 crore through open market transactions.

As per the bulk deal data on the BSE and NSE, Cube Mobility Investments Pte sold more than 2.81 crore units of Cube Highways Trust (Cube InvIT) on the BSE and it offloaded 2.01 crore units on the NSE, representing a combined 3.62 per cent unitholding in Cube InvIT .

The units were sold at an average price of Rs 127.50 per unit, taking the aggregate value to Rs 615.50 crore.

Meanwhile, Kotak Mahindra Bank and LTI Mindtree picked up over 1.56 crore units or 1.17 pc unitholding in Cube Highways Trust, in the price range of Rs 127.49-127.50 apiece, taking the deal value to Rs 199.52 crore.

In addition, infrastructure major Larsen & Toubro acquired 1.02 crore units, amounting to a 0.76 per cent unitholding in Cube Highways Trust at an average price of Rs 127.50 per unit.

This took the transaction value to Rs 130.05 crore.

Details of other buyers of Cube InvIT's units could not be ascertained on the BSE and NSE.

The units of Cube Highways Trust rose 6.25 per cent to end at Rs 127.50 per unit on the BSE and it went up 6.09 per cent to settle at Rs 127.50 a unit on the NSE.

In February, World Bank Group arm IFC had invested Rs 860 crore in India's first sustainability-linked bond in the road sector, issued by Cube Highways Trust.

In September 2024, Larsen & Toubro, its three affiliates and three other entities picked up an 8.03 per cent stake in Cube Highways Trust for Rs 1,243 crore.

The sellers involved in the transaction included Cube Highways and Infrastructure I-D Pte, Cube Highways and Infrastructure Pte and Cube Mobility Investments.

Cube InvIT is backed by Abu Dhabi Investment Authority, British Columbia Investment Management Corporation, Abu Dhabi's sovereign investor and Mubadala Investment Company.

In a separate bulk deal on the NSE, South Africa-based Lesaka Technologies (formerly Net 1 UEPS Technologies) exited One Mobikwik Systems by selling its entire 8 per cent in the company for Rs 143 crore through an open market transaction.

Lesaka Technologies through its arm Net 1 Applied Technologies Netherlands sold 62.15 lakh shares or 8 per cent stake in One Mobikwik Systems at an average price of Rs 230.16 apiece.

This took the deal value to Rs 143.06 crore.

Meanwhile, Citigroup Global Markets Mauritius, HDFC Mutual Fund and Societe Generale picked up a total of 27.82 lakh shares or 3.6 per cent stake in One Mobikwik Systems.

These entities picked up shares at an average price of Rs 230 apiece, taking the deal value to Rs 64 crore.

Details of other buyers of One Mobikwik Systems' shares could not be identified on the NSE.

Shares of One Mobikwik Systems rose 6.52 per cent to close at Rs 261.55 apiece on the NSE.