The consortium led by L&T acquires 8.03 per cent stake in Cube Highways

Larsen & Toubro (L&T), along with three of its affiliates and three additional entities, has acquired an 8.03 per cent stake in Cube Highways Trust for Rs 12.43 billion through an open market transaction for an average price of Rs 120 per unit. The consortium, which includes L&T Welfare Company, the L&T Employees Welfare Foundation, and the L&T Officers and Supervisory Staff Provident Fund, as well as SBI Mutual Funds, Kotak Mahindra Life Insurance, and ASK Financial Holdings, purchased 103.6 million units, representing the 8.03 per cent unitholding in Cube Highways Trust. Further, Cube Highways and Infrastructure I-D, Cube Highways and Infrastructure, and Cube Mobility Investments sold units worth Rs 18.72 billion, representing a 12.09 per cent stake in Cube Highways Trust.