Cubex Tubings to raise Rs 75 cr via convertible warrants at Rs 150

QIP at a premiumWarrants convertedFund Raising View source PDF Explain this filing

CUBEXTUB · price

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Price reactionminutes from the announcement price · days from the prior close

+5.0%Reaction day

₹200.87

prior close

₹210.91

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-1.6%+6.6% vs market

Aluminium Copper & Zinc Products peers, median of 9sector+0.7%+4.3% vs sector

On the reaction day the stock moved 6.6 pts more than Nifty Microcap 250 and 4.3 pts more than its Aluminium Copper & Zinc Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+5.0-1.6+6.6+0.7+4.3

Next day

+10.2-1.0+11.2+0.6+9.7

+15.8-2.6+18.4-1.3+17.1

+10.0-5.1+15.1-4.3+14.3

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UpDownMarket · Nifty Microcap 250Sector · Aluminium Copper & Zinc Products peers, median of 9Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved raising up to Rs 75 crore by issuing 50 lakh convertible warrants at Rs 150 per share (face value Rs 10, premium Rs 140). Valuer's fair price was Rs 142.31, so issue is priced above fair value. Promoter entity Cubex Securities takes 33.9 lakh warrants (Rs 50.85 cr); four other investors take the balance. On conversion, promoter holding rises from 44.42% to 50.47%. Proceeds will fund a vacuum melting furnace for nuclear, aerospace, defence, and heavy engineering sectors. 25 percent upfront, 75 percent within 18 months.

Likely market impact

Dilution ahead: total shares rise 35% on conversion. But promoter stake rises to 50.47% from 44.42%, showing confidence. Funds for expansion into high-value sectors.