Cubical Financial Services Limited announced the voting results for its Extra-Ordinary General Meeting (EGM) held on June 15, 2026, confirming the approval of key alterations to its capital structure. The company secured shareholder consent to increase its authorised share capital and issue equity shares via preferential allotment, alongside updates to its constitutional documents. These measures are intended to align the company's governance framework with the Companies Act, 2013.

Voting Results

All four resolutions placed before the shareholders were passed with an overwhelming majority. The voting process, conducted via remote e-voting and video conferencing, saw a total of 22,307,117 votes polled. The resolutions received 99.99% of the valid votes in favour, with only 0.01% cast against.

Meeting and Scrutiny Details

The EGM commenced at 12:40 P.M. and concluded at 12:51 P.M. Mr. Ashwani Kumar Gupta, Chairman and Managing Director, chaired the meeting. Mr. Sumit Bajaj of M/s. Sumit Bajaj and Associates was appointed as the scrutinizer to oversee the voting process. The remote e-voting period was open from June 12, 2026, to June 14, 2026. The scrutinizer's report confirmed that the votes were unblocked and counted in the presence of two witnesses not employed by the company.

Mr. Manoj Agrawal and Mr. Amit Kumar Saraogi have initiated a mandatory open offer to acquire up to 3,77,44,200 fully paid-up equity shares of Cubical Financial Services Limited , representing 26% of the emerging equity and voting share capital. The offer price is fixed at ₹2.50 per equity share, payable in cash. Corporate Makers Capital Limited has been appointed as the manager to the offer.

Background of the Offer

The open offer is pursuant to a Share Purchase Agreement (SPA) entered into on May 15, 2026, with the existing promoters, Mr. Ashwani Kumar Gupta and Mrs. Rita Gupta. Under the SPA, the acquirers are purchasing 2,00,75,137 equity shares, representing 13.83% of the emerging equity and voting share capital, at a price of ₹2.05 per share. Additionally, the board of directors of the target company has approved a preferential allotment of up to 8,00,00,000 equity shares to the acquirers and their persons acting in concert (PACs) at an issue price of ₹2.50 per share.

Offer Details

The open offer is being made to all public shareholders of the target company, excluding the existing promoter group, the acquirers, and the proposed allottees in the preferential issue. The offer is not conditional upon any minimum level of acceptance. Upon completion of the offer formalities, the existing promoters will cease to hold any equity shares and will be reclassified from the "Promoter and Promoter Group" to the "Public Category".

Financial Information

For the financial year ended March 31, 2026, the target company reported a total revenue of ₹130.59 lakh and a net income of ₹17.43 lakh. The net worth stood at ₹1,527.48 lakh. The table below summarizes the key financial metrics for the past three years.

Offer Price Justification

The offer price of ₹2.50 per share has been determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations. It is the highest of the negotiated price under the SPA (₹2.05), the price payable under the proposed preferential issue (₹2.44), and the volume-weighted average market price of the shares for the 60 trading days preceding the public announcement date (₹2.18).

Statutory Approvals and Schedule

The completion of the offer is subject to prior approval from the Reserve Bank of India and in-principal approval from the stock exchange regarding the proposed preferential issue. The tendering period for the open offer is scheduled to commence on July 9, 2026, and close on July 22, 2026.