Modulex Construction Technologies Share Price

Modulex Construction Technologies Limited was originally incorporated in the name, Tumus Electric Corporation Limited on May 24, 1973. The Company changed its name to, Modulex Construction Technologies Limited effective from December 14, 2018. Modulex is Indias first and the worlds largest steel modular manufacturing facility with an annual capacity of 2,00,000 sq. m. The Company is engaged in the business of modular construction and prefabricated building systems, offering integrated solutions spanning design, engineering, manufacturing and project execution. The Company is strategically positioned to participate in the transition of the construction industryfrom conventional projectbased execution to an industrialised, manufacturingled construction model.Consequent upon embarking to execute the business plan, the Companys subsidiary Modulex Modular Buildings Private Limited (MMBPL) is continuing with construction of a factory facility to produce steel modules and the upcoming commercial operation date of the factory, the Company has started the process of recruiting suitable personnel and leading HR firms, both in India and overseas. The factory land owned by MMBPL, 250 kms from Mumbai, is being developed in a 40acre site, in MIDC, Indapur, Pune Dist. 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 Board Meeting dated 9th February, 2015.During the year 2019, the Company acquired 78.59% of the subscribed Share Capital of the Modulex Modular Buildings Private Limited (MMBPL) by way of swap of shares on preferential basis and MMBPL became a Subsidiary of the Company. The Board of Directors of the Company raised funds by issuing 4,15,72,186 Equity Shares of face value of Rs. 10/ each, on 26th October, 2018, against Equity Shares of Modulex Modular Buildings Private Limited on preferential basis by way of swap of Equity Shares. As a result of this, Redribbon Modulex Buildings Limited, Mr. Suchit Punnose and Redribbon Advisory Services Private Limited became the new promoters of the Company in 2019.Give Vinduet Windows and Doors Private Limited became the Subsidiary Company effective from May 13, 2023.During FY 202526, the Company completed construction of one manufacturing shed, installed key machinery and commenced trial production activities.