Cube Highways Trust InvIT IPO has secured a strong vote of confidence from institutional investors, raising Rs 1,687.5 crore from anchor investors ahead of its much-awaited Rs 5,000-crore Infrastructure Investment Trust (InvIT) public issue, which opens for subscription on July 22.The trust allotted 11.10 crore units to 59 funds at Rs 152 per unit, according to a circular issued by the BSE. Leading the anchor book was Prazim Trading and Investment Co Pvt Ltd, an entity linked to Premji Invest, which secured units worth Rs 300 crore.The anchor allocation also saw participation from several marquee investors, including ICICI Prudential Life Insurance Company, SBI Life Insurance Company, HDFC Mutual Fund, SBI Mutual Fund, Nippon India Mutual Fund and Tata Mutual Fund. In total, 12 mutual funds through 26 schemes participated in the anchor offering.Cube Highways Trust has set a price band of Rs 151-152 per unit for its public issue, which will remain open until July 24. The offering marks the trust’s transition from a privately listed InvIT to a publicly listed platform and comprises a 100 per cent Offer for Sale (OFS) of units worth Rs 5,000 crore by existing unitholders.Ahead of the anchor allocation, the trust had also raised Rs 1,250 crore from strategic investors through unit subscription agreements signed on July 13. This strategic investment forms part of the overall issue size.Under these agreements, strategic investors will subscribe to 8.22 crore units at Rs 152 per unit. Prazim Trading and Investment Company has committed the largest portion with an investment of Rs 950 crore for 6.25 crore units. HDFC Life Insurance Company and HDFC Pension Fund Management will invest Rs 100 crore each, while Axis Max Life Insurance and WhiteOak Capital REIT & InvIT Alternatives Fund I have committed Rs 50 crore each.The minimum application size for investors is 95 units, with further bids accepted in multiples of 95 units. Of the net issue, 75 per cent has been reserved for qualified institutional buyers (QIBs), while the remaining 25 per cent has been allocated to non-institutional investors (NIIs). The strategic investor allocation of Rs 1,250 crore is excluded from the net offer.Registered with SEBI, Cube Highways Trust owns a portfolio of 27 operational road assets covering 8,754 lane kilometres across 12 states and one Union Territory as of March 31, 2026. The portfolio has an average remaining concession life of 18 years, providing investors exposure to long-term infrastructure assets.The InvIT units are proposed to be listed on both the BSE and NSE. The basis of allotment is expected to be finalised around July 29, with refunds and demat credit for successful applicants likely on July 30. The units are expected to begin trading on the exchanges around August 3.Kotak Mahindra Capital Company, HDFC Bank, HSBC Securities and Capital Markets (India) Pvt Ltd, and JM Financial are acting as the book-running lead managers for the issue, while KFin Technologies is the registrar.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)