Kotak Mahindra Bank, M&M, and Others Purchase Rs 534 Crore Worth of Units in Cube Highways Trust from I Squared Capital Entities

I Squared Capital Entities Sell 2.7 Percent Stake in Cube Highways Trust

March 30 marked significant transactions in the Indian stock market, with I Squared Capital entities selling a 2.7 percent stake worth Rs 534 crore in infrastructure investment trust Cube Highways Trust to five firms. The transactions were conducted through open market transactions.

The units of Cube Highways Trust were exchanged at a price of Rs 146 per unit. Cube Mobility Investments, a Singapore-based infrastructure platform owned by I Squared Capital, sold 2.33 crore units for Rs 340.91 crore, while I Squared Capital and International Finance Corporation-owned Cube Highways and Infrastructure III offloaded 1.32 crore units for Rs 192.72 crore. In total, they sold a 2.7 percent stake for Rs 533.6 crore.

However, Infrastructure and Real Assets Fund acquired 61.75 lakh units in Cube Highways Trust for Rs 90.15 crore, Kotak Mahindra Bank 1.9 crore units for Rs 278.49 crore, and ASK Financial Holdings 41.5 lakh units for Rs 60.59 crore. Additionally, Neo Real Asset Yield Fund bought 37.5 lakh units in the infrastructure investment trust for Rs 54.75 crore, and Mahindra & Mahindra 34 lakh units for Rs 49.64 crore.

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Share Transactions in Other Companies

The major action was also seen in Shree Digvijay Cement Company, whose shares rallied 13.67 percent to Rs 63.94 on the BSE. True North Fund VI LLP, which held a 9.54 percent stake as of December 2025, sold 65.95 lakh shares (equivalent to 4.46 percent of paid-up equity) at Rs 64 per share, valued at Rs 42.2 crore.

True North Fund was the earlier promoter of Shree Digvijay Cement with a holding of nearly 55 percent stake, of which it offloaded little more than 45 percent shares to India Resurgence Fund in the December quarter.

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India Resurgence Fund, the current promoter in the cement company, through its two schemes acquired an additional 4.2 percent stake on Monday. India Resurgence Fund - Scheme 1 picked up 12.19 lakh shares at Rs 63.91 per share for Rs 7.79 crore, and India Resurgence Fund 2 - Scheme 2 bought 50.32 lakh shares at Rs 63.99 per share, valued at Rs 32.2 crore.

IRM Energy shares may be reacting to the share buyout by the promoter entity, rising 2.46 percent to Rs 180.39 after hitting a record low during the day on the National Stock Exchange. IRM Trust has bought an additional 2.56 lakh shares (0.62 percent stake) in the company at Rs 177.31 per share, valued at Rs 4.5 crore.

Meanwhile, Siemens Energy India, GMR Airports, LG Electronics India, Max Healthcare Institute, Bharat Heavy Electricals, Jio Financial Services, and Sai Life Sciences saw exchange of shares on Monday.