Modulex Construction Technologies Ltd Board approves Right Issue of Equity Shares

The Board of Directors of Modulex Construction Technologies Limited at its meeting held on Tuesday, i.e. 15th March, 2022, considered and approved the increase the authorized share capital of the Company from Rs.73,00,00,000 (Rupees Seventy Three Crores Only) to Rs. 93,00,00,000 (Rupees Ninety Three Crores Only) and Consequent change in MOA, subject to the approval of shareholders at the Extra-Ordinary General Meeting.

The board approved raising of funds through issuance and allotment of equity shares having face value of Rs. 10.00/- (Rupees Ten Only) ('Equity Shares') for an aggregate amount of up to Rs. 41 Crores on right issue basis, on such terms and conditions as may be decided by the Board of Directors of our Company to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently) subject to the receipt of applicable regulatory and statutory approvals, in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder, as amended from time to time, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, and such other applicable provisions, and subject to such conditions and modifications as may be prescribed or imposed in granting of such approvals, permissions, and sanctions by any of the aforesaid authorities ('Issue').

The board also approved appointment of various intermediaries for the aforesaid Rights Issue.

Shares of Modulex Construction Technologies Ltd was last trading in BSE at Rs. 15.55 as compared to the previous close of Rs. 16.40. The total number of shares traded during the day was 96883 in over 109 trades.

The stock hit an intraday high of Rs. 16.90 and intraday low of 15.20. The net turnover during the day was Rs. 1577735.00.

Source : Equity Bulls

Keywords

ModulexConstructionTechnologies INE064R01012 RightsIssue FundRaising