Key Details
The Board of Directors of Modulex Construction Technologies Limited approved via Circular Resolution passed on 21st September, 2026 the forfeiture of upfront consideration paid for certain unexercised Convertible Warrants. These warrants were originally issued on a preferential basis under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations).
Specifics of Forfeiture
The exercise period for these Convertible Warrants expired on 30th June, 2026. The forfeiture applies specifically to unexercised convertible warrants held by three individuals:
- Mr. Aditya Vikram Kanoria
- Mr. Ajay Sarupria
- Ms. Labdhi Shah
The total upfront consideration being forfeited aggregates to ₹1,47,81,352.50 (Rupees One Crore Forty-Seven Lakhs Eighty-One Thousand Three Hundred Fifty-Two and Fifty Paise only).
Regulatory Basis
The action is taken in accordance with Regulation 169 of the SEBI (ICDR) Regulations, 2018, which governs the treatment of unexercised convertible instruments.
Filing Details
The disclosure was filed with BSE Limited on 21st September, 2026 under reference number MCTL/2026-27/BSE-085. The communication was signed by Bhoomi Mewada, Company Secretary and Compliance Officer of Modulex Construction Technologies Limited.