Regulation 32- Statement of Deviation & Variation
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Awaiting price reaction for this filing.
Modulex Construction Technologies has confirmed that there has been no deviation or variation in the use of funds raised through its preferential issue of warrants, as required under SEBI's Listing Regulations. The company raised a total of about Rs. 33.46 crore across three tranches in December 2024, January 2025, and April 2025, of which Rs. 31.98 crore was received as application and call money. Of this, Rs. 31.12 crore has already been utilized during the quarter ended 30th June 2025. The entire amount has been deployed as a loan to its subsidiary MMBPL for the construction of a factory at Indapur, Pune, Maharashtra. The Audit Committee reviewed and signed off on the statement on 12th August 2025, with no comments or qualifications from auditors.
This is a routine compliance filing with no negative implications — the company has used the warrant proceeds exactly as disclosed to shareholders, which is a positive governance signal. Retail investors can take comfort that the Rs. 31+ crore raised is being deployed toward the stated subsidiary-level capex (factory construction) without any unauthorized diversions.