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Modulex Construction Technologies Ltd.

BSE: 504273 Sector: Infrastructure
NSE: N.A. ISIN Code: INE064R01012
BSE 00:00 | 28 Oct 8.45 0.24
(2.92%)
OPEN

8.10

HIGH

8.59

LOW

7.82

NSE 05:30 | 01 Jan Modulex Construction Technologies Ltd
OPEN 8.10
PREVIOUS CLOSE 8.21
VOLUME 1007
52-Week high 25.90
52-Week low 6.84
P/E
Mkt Cap.(Rs cr) 43
Buy Price 7.85
Buy Qty 200.00
Sell Price 8.45
Sell Qty 200.00
OPEN 8.10
CLOSE 8.21
VOLUME 1007
52-Week high 25.90
52-Week low 6.84
P/E
Mkt Cap.(Rs cr) 43
Buy Price 7.85
Buy Qty 200.00
Sell Price 8.45
Sell Qty 200.00

Modulex Construction Technologies Ltd. (MODULEXCONST) - Company History

Modulex Construction Technologies Ltd (formerly known as Tumus Electric Corporation Ltd) was incorporated in 24th May 1973. The Company has been engaged in negotiations to acquire the equity shares of group company Modulex Modular Buildings Pvt. Ltd by way of issue of fresh equity shares to be swapped with the equity shares of Modulex. Presently Modulex is setting up India's first high capacity steel modular buildings factory in Indapur District Pune.During FY 2015 the Company allotted shares on right basis to existing shareholders in the ratio of 9 Equity shares for every 10 held in its Board meeting dated 9th February 2015.The Company on 15th July 2015 received a show cause dated 13th May 2015 from Securities and Exchange Board of India on account of alleged delay/ non-filings under Regulation of 8(3) SAST Regulations 1997 for prior period of 1997 to 2011 when the company was under the old promoters/ management. Pursuant to approval of shareholders obtained by way of Postal Ballot Notice dated 12th January 2016 the Company allotted 134500 Equity shares of Rs. 10/- each at par on preferential basis to existing promoter of the Company Uttam Bharat Bagri on 14th March 2016.The registered office of the Company has been shifted from P.O-Chorhata Rewa District Madhya Pradesh - 486006 to Ground Floor Bagri Niwas 53/55 Nath Madhav Path Kalbadevi Mumbai 400 002 Maharashtra w.e.f. 25th August 2016 vide member's approval through Postal Ballot dated 8th March 2016 and order of Regional Director Ahmedabad Gujarat dated 24th August 2016.SEBI has passed an order ref. RA/JP/04/2015 dated 20th August 2015 levying a penalty of Rs. 8 lakh on the Company for delay in submission of disclosures under Regulation 8(3) of the SEBI (Substantial Acquisitions of Shares and Takeover) Regulations 1997. The delay related to time period between 1997-2011. The said delay was during the time period of the previous management of the Company the current management/ promoter being promoter of the Company only since 2nd January 2013. The said penalty has been paid to the SEBI on 10th September 2015.Pursuant to approval of shareholders obtained by way of Special resolution in 43rd AGM of the Company held on 30th September 2016 the Company allotted 177500 Equity shares of Rs. 10/- each at par on preferential basis to existing promoter of the Company Uttam Bharat Bagri on 5th October 2016.Uttam Bagri the past promoter of the Company had entered into Share Purchase Agreement (SPA) on 27th September 2017 with Redribbon Modulex Buildings Limited (the Acquirer) and the Company pursuant to which Acquirer made an open offer under SEBI (SAST) 2011. Accordingly acquirer had cumulatively acquired 886890 (68.89%) equity shares through SPA and Open Offer. After completion of Open Offer in terms of SEBI (SAST) 2011 in February 2018 Acquirer acquired control of the company and has been designated as the promoter of the Company.

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