Corporate Action16 Jun 2026, 05:10 pm
Modulex Converts Warrants to 3.38 Cr Equity Shares
AI Summary
Modulex Construction Technologies Ltd announced the conversion of 3,38,88,610 convertible warrants into an equal number of equity shares. The conversion, approved by the Board of Directors via circulation on June 16, 2026, involved equity shares of face value ₹10 each, converted at a price of ₹18 per share. This preferential allotment was made to non-promoters, raising a total of ₹45,74,96,235, representing 75% of the issue price per warrant. The conversion follows SEBI ICDR Regulations and relevant sections of the Companies Act.
Key Highlights
- 33.89 million warrants converted into equity shares.
- Conversion price set at ₹18 per equity share.
- Preferential allotment to non-promoters.
- Raises ₹45.75 crore for the company.
- Board approved conversion via circular resolution.
Price Impact
More from MODULEX