Statement of Deviation or Variation Report for the Quarter ended 31st March, 2025.
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Awaiting price reaction for this filing.
Modulex Construction Technologies has filed its quarterly compliance report confirming there was no deviation or variation in the use of funds raised through a preferential issue of warrants. The company raised Rs. 16.55 crore on 18th December 2024 and 1st January 2025, and has utilized the full amount as a loan to its subsidiary MMBPL for the construction of a factory at Indapur, Pune, Maharashtra. The Audit Committee reviewed the statement on 26th May 2025 and had no comments, while auditors also raised no concerns. This is a routine disclosure under SEBI Listing Regulations to reassure investors that the capital raised is being used exactly as originally disclosed.
This is a positive compliance signal for shareholders, confirming that the Rs. 16.55 crore raised from warrant holders is being used strictly for the stated purpose (factory construction via subsidiary). No deviation means no governance red flags, though the filing is largely procedural and is unlikely to move the stock price on its own.