Board overhaul after takeover, new MD and CFO appointed
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.5 pts more than Nifty Microcap 250 and 3.8 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Following takeover completion and change in management control, Cubical Financial Services saw a full board overhaul. Mr Manoj Agrawal appointed as Managing Director and Mr Amit Kumar Saraogi as Executive Director and CFO. Six new directors inducted. Five members including old MD Ashwani Kumar Gupta, old CFO Prakash Chand Sharma, and two Independent Directors stepped down. Authorised capital raised from about Rs 29.51 Cr to Rs 47.51 Cr and borrowing limit hiked to Rs 200 Cr.
Major management change after takeover. New leadership in place; watch for fresh strategic direction and capital raising plans.