Cubical Financial Services Limited held its 36th Annual General Meeting on September 28, 2026, via video conferencing. The meeting commenced at 2:05 pm following a brief technical delay from the scheduled 2:00 pm start.

Shareholders adopted the audited financial statements for the fiscal year ended March 31, 2026. The Board of Directors' report and auditor reports were also approved without any qualifications or adverse remarks.

Directorial appointments and governance

The AGM addressed key leadership continuity and board composition changes through specific resolutions:

• Re-appointment of Executive Chairman: Shri Ashwani Kumar Gupta was re-appointed as Executive Chairman and Managing Director for a term of five years. This was passed as a Special Resolution.
• Director Re-election: Mrs. Jyoti Choudhary (DIN: 10249120), who retired by rotation, was appointed in her place following eligibility confirmation. This was passed as an Ordinary Resolution.

Meeting proceedings and compliance

The meeting concluded at 2:30 pm, including time allocated for electronic voting. Mr. Mukesh Kumar Agarwal of M/s Mukesh Agarwal & Co. served as the scrutinizer for remote e-voting and voting during the proceedings. Detailed voting results are to be uploaded on the company's website.

The company confirmed that all directors attended the meeting through video conferencing from their respective locations. Statutory auditors, secretarial auditors, and scrutinizers were also present virtually.

Cubical Financial Services Limited board approved the allotment of 5.11 crore equity shares in the second tranche of its preferential issue on September 14, 2026. The company raised ₹12.78 crore through this tranche, completing the authorized capital raise of 8 crore equity shares.

The shares were allotted at an issue price of ₹2.50 per equity share, consistent with the first tranche allotted on September 7, 2026. This pricing aligns with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The board had previously received in-principle approval from BSE Limited on July 30, 2026, and regulatory clearance from the Reserve Bank of India on August 31, 2026, for changes in control and management.

Allotment Details

The second tranche involves two investors: Manoj Agrawal and Amit Kumar Saraogi. Both are currently classified as public shareholders but will be reclassified as promoters upon completion of the ongoing open offer process pursuant to SEBI SAST Regulations. Manoj Agrawal received 2 crore shares in this tranche, while Amit Kumar Saraogi received 3.11 crore shares.

Cumulative Subscription Overview

The total preferential issue comprises two tranches. The first tranche, allotted on September 7, 2026, involved 2.89 crore shares to Manoj Agrawal, Kanchan Saraogi, Shikha Agrawal, and Manoj Agrawal (HUF). The second tranche completes the authorized 8 crore share issuance.

SAST Disclosure and Regulatory Compliance

Manoj Agrawal, along with Persons Acting in Concert (PAC) Mrs. Shikha Agrawal and Manoj Agrawal (HUF), submitted a disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on September 9, 2026, covering the first tranche.

Amit Kumar Saraogi submitted a separate disclosure under Regulation 29(1) of the SEBI SAST Regulations, 2011, on September 16, 2026, regarding his acquisition of 3.11 crore shares (21.42%) via preferential allotment on September 14, 2026. The disclosure confirms that Saraogi holds no other voting rights or convertible securities in the company and is classified as a non-promoter acquirer. The new disclosure for the second tranche was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Additionally, Manoj Agrawal filed a disclosure under Regulation 29(2) of the SEBI SAST Regulations, 2011, on September 16, 2026, confirming his acquisition of 2 crore shares (13.77%) through the preferential allotment on September 14, 2026. His total holding stands at 3.11 crore shares (21.42%) post-acquisition. The disclosure explicitly states that Mr. Manoj Agrawal does not belong to the Promoter/Promoter group prior to this acquisition.

The equity share capital of Cubical Financial Services increased from ₹13.03 crore (6.51 crore shares) before the acquisition to ₹28.81 crore (14.51 crore shares) after the completion of both tranches. The new shares rank pari passu with existing equity shares in all respects. The company intends to apply for listing approval of these newly allotted shares with the stock exchange in due course.