Cubical Financial Services Limited announced the allotment of 5,11,00,000 equity shares at an issue price of ₹2.50 per share, aggregating to ₹12,77,50,000. This preferential issue aims to raise capital and was approved by the Board of Directors on September 14, 2026. The new shares rank pari-passu with existing equity shares.
Board Approves Preferential Equity Issue
Cubical Financial Services Limited’s Board of Directors, in a meeting held on September 14, 2026, approved the allotment of 5,11,00,000 fully paid-up equity shares. These shares, with a face value of ₹2.00 each, were issued at a premium of ₹0.50 per share, resulting in an issue price of ₹2.50 per equity share. The total aggregate amount raised from this preferential issue is ₹12,77,50,000.
Details of the Allotment
The allotment was made on a preferential basis through a private placement to specific allottees, as detailed in Annexure-A. The newly issued equity shares will rank pari-passu in all respects with the company’s existing equity shares. This move is in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and applicable provisions of the Companies Act, 2013.
Previous Approvals and Tranches
This current tranche of allotment follows in-principle approvals from BSE Limited (dated July 30, 2026) and prior approval from the RBI for a change in control, dated August 31, 2026. Earlier, on September 7, 2026, the company had allotted 2,89,00,000 equity shares as part of the first tranche. The total number of equity shares approved for issuance was up to 8,00,00,000.
Allottee Information
The allottees in this preferential issue are Mr. Manoj Agrawal and Mr. Amit Kumar Saraogi. Post-allotment, their shareholding will be updated, with the company currently undergoing an open offer process. Accordingly, their status may be reclassified to Promoters upon completion of the open offer.
Meeting Conclusion
The Board meeting commenced at 12:00 P.M. and concluded at 01:00 P.M. on September 14, 2026.
Source: BSE
