Modulex's board has approved the conversion of 3.38 crore convertible warrants into an equal number of equity shares.

These shares were allotted to non-promoter investors at ₹18 each, making them fully paid up.

This expands the company's outstanding shares, increasing its capital base.

Modulex had previously received ₹45.75 crore, representing 75% of the total issue price for these warrants.

This completes the capital raise associated with these warrants, providing long-term funds and strengthening the company’s financial position.