Cube Highways Plans $600 Million India IPO, Hires Four Banks

Cube Highways Trust, an Indian infrastructure investment trust, is preparing to file for an initial public offering that could raise $600 million, according to people familiar with the matter.

The firm has hired Kotak Mahindra Capital Co., HSBC Holdings Plc, ICICI Securities Ltd. and HDFC Bank Ltd. to arrange the sale, the people said, asking not to be identified as the information is private. Discussions are ongoing and details of the offering may change, they said.

Currently listed as a private trust, Cube Highways plans to convert into a public company through a share sale. India’s securities regulator ...