CTCubex Tubings526027Preferential allotment

EGM on 6 November 2026 to consider issue of up to 50,00,000 convertible warrants at Rs. 150/- each

EGM scheduled for 6 November 2026, 10:30 A.M. IST, through video conferencing.

By ScoutQuest · Thu 15 Oct 2026, 4:47 PM IST · 3 min read

Warrants proposed

up to 50,00,000 convertible warrants

Issue price per warrant

Rs. 150/- each

Conversion window

within 18 months from allotment

An extraordinary general meeting (EGM) of the members is scheduled for 6 November 2026 at 10:30 A.M. IST, to be held through video conferencing or other audio-visual means. The notice carries one item of special business, proposed to be passed as a special resolution.

What is being proposed

• Issue of up to 50,00,000 warrants convertible into equity shares, on a preferential allotment basis, to promoters and non-promoters of the company.
• Issue price: Rs. 150/- per warrant, against the face value of Rs. 10/- per equity share.
• Each warrant is convertible into one equity share of face value Rs. 10/- each.
• The Relevant Date for the preferential issue is 7 October 2026.

Who is proposed to receive the warrants

• Cubex Securities Ltd (promoter, entity): 33,90,000 warrants, consideration Rs. 50,85,00,000.
• The other proposed allottees are non-promoters: Ajeet Modi (individual), H & A Unicorns (entity), Ruchas Ventures (partnership firm) and Payal Tandan Shrivastava (individual).

Payment and conversion terms

• 25% of the issue price is payable on or before the date of allotment of the warrants, and is adjusted against the issue price of the equity shares.
• The balance 75% of the issue price is payable by the warrant holder at the time of exercising conversion.
• Conversion can be exercised at any time within 18 months from the date of allotment of the warrants, in one or more tranches.
• If the option is not exercised within 18 months, the warrants lapse and the amount paid on them stands forfeited to the company.
• On exercise of conversion, the shares are to be issued and allotted in dematerialised form and will rank pari passu with the existing equity shares, including as to dividend.
• The warrants do not confer voting or dividend rights before conversion.
• The warrants, and the equity shares issued on conversion, will be locked-in as prescribed under the SEBI (ICDR) Regulations, 2018.
• Consideration is to be received through banking channels from the allottee's bank account, and the company will obtain and submit the statutory auditor's certificate.
• The board is authorised to accept any modification in the terms of the issue as may be required by the agencies involved, subject to conditions imposed by SEBI, RBI or another appropriate authority.

Listing and allotment

• The equity shares arising on conversion are to be listed on BSE Limited and the National Stock Exchange of India Limited, where the company's equity shares are listed.
• The board is to apply to both exchanges for in-principle approval on the same day as dispatch of the notice, and obtain the requisite approvals before allotment and listing and trading approvals.
• The warrants are to be allotted within the period set out in the resolution, or within the period permitted under Regulation 170 of the SEBI ICDR Regulations where an approval or permission is pending.
• The authorised signatories for giving effect to the resolution include Virendra Bhandari, Managing Director, and Akshay Bhandari, Executive Director.

How shareholders can vote

• The company is providing remote e-voting through Central Depository Services (India) Limited.
• The e-voting period begins on 3 November 2026 at 10:00 A.M. and ends on 5 November 2026 at 5:00 P.M.
• The cut-off date for e-voting is 30 October 2026; members holding shares in physical or dematerialised form as on that date may cast their vote electronically.
• Members who have already voted before the meeting are not entitled to vote at the meeting.
• The board has appointed Sarada Putcha as Scrutinizer to scrutinize the voting and remote e-voting process.
• Members can attend the EGM through video conferencing or other audio-visual means, and attendance through these modes will be counted for the purpose of ascertaining the quorum. Proxy attendance is not available for this EGM.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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