Corporate Action4 Nov 2026, 08:24 pm
Cubex Tubings Plans ₹75 Cr Preferential Issue of Warrants
AI Summary
Cubex Tubings Ltd is proposing a preferential issue of up to 50,00,000 convertible warrants at ₹150 per warrant, aggregating to ₹75 crore. This issue is part of an extraordinary general meeting agenda. The proceeds will be allocated to land and civil/electrical works (₹50 crore) and a vacuum induction melting furnace (₹25 crore). The total estimated project cost is ₹87 crore, with the balance ₹12 crore to be funded from company reserves. The company has confirmed that the issue and subsequent conversion will be structured to avoid triggering an open offer obligation under SEBI Takeover Regulations.
Key Highlights
- Proposed preferential issue of 50 lakh convertible warrants at ₹150 each.
- Total issue size of ₹75 crore to fund land and equipment.
- Issue structured to avoid open offer obligations.
- Project cost ₹87 crore, balance ₹12 crore from reserves.
Price Impact
More from CUBEXTUB