Proposed ₹75 crore convertible warrant issue for expansion project
CUBEXTUB · price
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On the reaction day the stock moved 2.0 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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Cubex Tubings will seek shareholder approval on 6 November 2026 for up to 5 million convertible warrants at ₹150 each, raising up to ₹75 crore. About ₹50 crore will fund land and civil and electrical work, while ₹25 crore will fund a vacuum induction melting furnace. The ₹87 crore project will also use ₹12 crore from reserves and is expected to be completed by August or September 2027. The company says the structure will not trigger an open offer.
The expansion may support future growth, but warrant conversion could dilute existing shareholders and increase equity outstanding.