Cube Mobility Sheds Unit Stake, Major Acquisitions Stir Market
Cube Mobility Investments divested a 3.62% unitholding in Cube Highways Trust for Rs 615 crore. Major buyers like Kotak Mahindra Bank and Larsen & Toubro acquired significant stakes. Separately, Lesaka Technologies exited One Mobikwik Systems, selling its 8% stake for Rs 143 crore, sparking interest from prominent investors.
- Country:
- India
In a strategic move, Singapore-based Cube Mobility Investments sold a substantial 3.62% stake in Cube Highways Trust, amounting to Rs 615 crore on Thursday. The open market transaction involved selling over 4.82 crore units across the BSE and NSE.
Major players like Kotak Mahindra Bank and LTI Mindtree seized the opportunity, purchasing over 1.56 crore units. Meanwhile, Larsen & Toubro acquired over 1 crore units at Rs 127.50 each, highlighting strong investor interest in infrastructure investments.
Separately, South Africa's Lesaka Technologies fully exited its position in One Mobikwik Systems, selling an 8% stake for Rs 143 crore. Notable buyers include Citigroup and HDFC Mutual Fund, capitalizing on the thriving market activity.
(With inputs from agencies.)
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