Disclosure under Regulation 30(LODR) regarding Public Announcement
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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 6.3 pts more than Nifty Microcap 250 and 6.1 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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Two acquirers (Mr. Manoj Agrawal and Mr. Amit Kumar Saraogi) along with persons acting in concert (PACs) are making a mandatory open offer for Cubical Financial Services Limited. The offer triggers because the acquirers entered into a Share Purchase Agreement to buy 13.83% stake from existing promoters (Mr. Ashwani Kumar Gupta and Mrs. Rita Gupta) and also received board approval for a preferential allotment of 55.11% stake. The open offer is for acquiring up to 26% of the emerging equity capital at ₹2.50 per share, totaling ₹943.61 lakhs. After the underlying transaction and open offer, acquirers will collectively hold 68.94% of the company, making them the new promoters.
Existing promoters are exiting the company completely. The stock may see volatility due to change in control and mandatory open offer. Shareholders can tender their shares at ₹2.50 per share.