Modulex Forfeits ₹1.48 Cr from Unexercised Convertible Warrants

Modulex Construction Technologies Ltd's Board of Directors, via a circular resolution on September 21, 2026, approved the forfeiture of upfront consideration totaling ₹1,47,81,352.50. This amount relates to unexercised convertible warrants issued on a preferential basis under SEBI (ICDR) Regulations, 2018, whose exercise period expired on June 30, 2026. The forfeiture impacts Mr. Aditya Vikram Kanoria, Mr. Ajay Sarupria, and Ms. Labdhi Shah, who held these unexercised warrants. The company retains the upfront payment in accordance with Regulation 169 of the SEBI (ICDR) Regulations.