Cubical Financial Services EGM: 4 Resolutions Win 2026

Company snapshot and why this update matters

Cubical Financial Services Limited is an India-based non-banking financial company (NBFC) incorporated in 1990 and registered with the Reserve Bank of India (RBI). Listed on BSE under the ticker CUBIFIN, the company operates in the Investment Banks/Brokers segment within the finance sector. The company is headquartered in New Delhi, and its stated focus is finance and investments in financial markets and properties.

The latest corporate action matters because it combines a capital structure reset with a proposed change in control. The company has disclosed voting results for an Extra-Ordinary General Meeting (EGM) that approved changes to authorised share capital, a preferential issue of equity shares, and updates to the company’s constitutional documents. These approvals sit alongside an open offer announced by incoming acquirers, which together could reshape the company’s promoter holding.

EGM voting results filed with BSE

Cubical Financial Services disclosed the voting results for its EGM held on June 15, 2026 through a filing to BSE Limited. The company reported that all four resolutions placed before shareholders were approved. The results showed a near-unanimous outcome, with 99.99% of valid votes in favour and 0.01% against.

The voting process was conducted through remote e-voting and video conferencing. As per the disclosed figures, a total of 22,307,117 votes were polled. The company’s filing also provided resolution-wise break-up for votes in favour and against, showing the same pattern across all items.

What shareholders approved: capital, issuance, and governance

The EGM approved an increase in authorised share capital and the alteration of the capital clause in the Memorandum of Association (MoA). It also approved issuance of equity shares by way of preferential issue. In addition, shareholders approved adoption of a new set of MoA and a new set of Articles of Association (AoA).

The company has stated that these measures are intended to align its governance framework with the Companies Act, 2013. Separately, the company also revised its EGM notice to correct a clerical error regarding the nature of resolutions for Items 3 and 4, clarifying them as Special Resolutions.

Resolution-wise voting: 99.99% support across items

The EGM had four items and each received 22,305,688 votes in favour and 1,429 votes against, translating to 99.99% support.

Preferential issue plan: ₹20 crore for 8 crore shares

The company’s EGM agenda included a significant capital infusion via preferential allotment. As disclosed, Cubical Financial Services aims to raise ₹20.00 crore by issuing 8 crore equity shares at an issue price of ₹2.50 per share. Alongside this, the company proposed increasing its authorised share capital from ₹13.51 crore to ₹29.51 crore.

This preferential issue is linked to a broader change-in-control plan. The company indicated that upon closing of the preferential issue and the subsequent open offer, the proposed allottees would acquire control over the company and be classified as promoters.

Open offer: 26% at ₹2.50 per share

Separately, Mr. Manoj Agrawal and Mr. Amit Kumar Saraogi announced a mandatory open offer to acquire up to 3,77,44,200 fully paid-up equity shares of Cubical Financial Services. This represents 26% of the emerging equity and voting share capital. The offer price is fixed at ₹2.50 per equity share, payable in cash.

The company’s disclosed figures put the open offer value at ₹9.44 crore. The tendering period for the open offer is scheduled to commence on July 9, 2026 and close on July 22, 2026.

Share purchase agreement and approvals needed

The open offer is pursuant to a Share Purchase Agreement (SPA) entered into on May 15, 2026 with 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.

In addition, the board 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. Completion is subject to prior approval from the RBI and in-principle approval from the stock exchange regarding the proposed preferential issue.

Change in control and promoter holding: what the filings indicate

Cubical Financial Services has indicated that if the preferential issue and open offer are successfully completed, control of the company is expected to shift to the incoming allottees and acquirers. The post-issue shareholding pattern shared alongside the proposal indicates the promoter group holding could rise to 68.94%.

The disclosures also state that upon completion of offer formalities, existing promoters will cease to hold any equity shares and will be reclassified from the “Promoter and Promoter Group” to the “Public Category”. Separately, the company’s shareholding pattern also notes promoter holding remained unchanged at 30.80% in the March 2026 quarter.

Key numbers investors are tracking

As of early 2026, the stock price was reported to fluctuate around ₹2.02, with market capitalisation of approximately ₹13 crore. On the operating side, the company reported total revenue of ₹2.42 crore in FY2025, a decrease of 11.5% compared to FY2024.

These figures form the baseline against which investors typically evaluate dilution, control changes, and the stated intent of using new funds to grow the business, including enhancing the lending portfolio.

Market impact and analysis: what the approvals enable

From a process standpoint, the EGM vote removes a key shareholder approval hurdle for the capital and governance changes. The 99.99% support level suggests minimal resistance among voting shareholders for the authorised capital increase, preferential issuance, and adoption of revised MoA and AoA.

The key market implication is that the preferential issue and open offer, if completed, would significantly change ownership and control, with the disclosed post-issue promoter holding moving to 68.94%. At the same time, the open offer provides an exit route for minority shareholders at ₹2.50 per share during the tender period, subject to the terms and completion of the transaction.

Conclusion: next dates and what to watch

Cubical Financial Services’ June 15, 2026 EGM voting results confirm shareholder approval for four capital and governance resolutions, passed with 99.99% votes in favour. The company’s broader transaction structure includes a SPA dated May 15, 2026, a proposed preferential allotment, and a mandatory open offer priced at ₹2.50 per share.

The next concrete milestones disclosed are regulatory and exchange approvals, and the open offer tendering window from July 9, 2026 to July 22, 2026. Investors will track these steps because the company has linked them to a change in control and a post-issue promoter holding of 68.94%.

Company contact and registered details (as disclosed)

Cubical Financial Services Limited is headquartered in New Delhi. The disclosed address is 456, Aggarwal Metro Heights, Netaji Subhash Place, Pitampura, New Delhi, Delhi 110034. The company’s telephone number is 011-45645347, email is cubfinser@yahoo.com, and website is https://www.cubical90.com. The CEO is listed as Ashwani Kumar Gupta.