Cube Mobility divests 3.62 per cent stake for Rs 6.15 billion

Cube Mobility Investments has divested a 3.62 per cent stake in Cube Highways Trust for Rs 6.15 billion through an open market transaction. Cube Mobility divested 28.1 million units on the Bombay Stock Exchange and 20.1 million units on the NSE, at an average price of Rs 127.5 per unit. On the buyers’ side, Kotak Mahindra Bank and LTI Mindtree together picked up 15.6 million units (1.17 per cent stake) valued at around Rs 2 billion. Additionally, L&T picked up 10.2 million units (0.76 per cent stake) for Rs 1.3 billion. The details of the other buyers could not be ascertained.