Modis Navnirman Limited IPO Detail
Incorporated in 2015, Modi's Navnirman Limited is a real estate company. The company is engaged in construction services. Modi's Navnirman business model focuses on designing and developing products to address consumer needs across price points.
Currently, the company has 2 Ongoing and 2 upcoming residential projects and 3 Ongoing and 3 upcoming Residential-cum-Commercial projects.
Modi's Navnirman's all the completed, ongoing and upcoming projects are located in Mumbai. The company's project names begin with the word "Rashmi" (such as "Rashmi Sadhna", "Rashmi Sheela" "Rashmi Terrace", etc).
Competitive Strengths:
- Experienced Management Team.
- Established brand and reputation.
- Proven execution capabilities.
- Strong project pipeline providing cash flow visibility
Company Promoters
Dineshkumar Modi, Rashmi Modi and Mahek Modi are the company promoters.IPO Details
| IPO Opening Date | Jun 23, 2022 |
| IPO Closing Date | Jun 28, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹180 per equity share |
| Market Lot | 800 Shares |
| Min Order Quantity | 800 Shares |
| Listing At | BSE SME |
| Issue Size | ₹22.68 Cr |
| Fresh Issue | 1,260,000 shares of ₹10 (aggregating up to ₹22.68 Cr) |
| Offer for Sale | - |
| Retail Portion | - |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 2.76x | 1.22x | 1.99x |
IPO Tentative Timetable
The Modis Navnirman Limited IPO open date is Jun 23, 2022, and the close date is Jun 28, 2022. The issue may list on Jul 06, 2022.
| IPO Open Date | Jun 23, 2022 |
| IPO Close Date | Jun 28, 2022 |
| Basis of Allotment Date | Jul 01, 2022 |
| Initiation of Refunds | Jul 04, 2022 |
| Credit of Shares to Demat Account | Jul 05, 2022 |
| IPO Listing Date | Jul 06, 2022 |
IPO Lot Size
The Modis Navnirman Limited IPO market lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 800 | ₹144000 |
| Maximum | 1 | 800 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding | 70.20% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 998.48 | 2195.46 | 139.78 |
| 31-Mar-21 | 735.21 | 1322.34 | 37.83 |
| 31-Mar-22 | 3098.29 | 1151.07 | 132.7 |
Objects of the Issue:
The company proposes to utilize the Net Proceeds from Issue towards funding the following objects:
1. Investment in subsidiary company - SMNPL for Repayment of its outstanding unsecured loans.
2. General Corporate Purpose.
Modis Navnirman Limited IPO Registrar:
Bigshare Services Pvt Ltd
Modis Navnirman Limited IPO Lead Manager(s):
Aryaman Financial Services limited (Past IPO Performance)
Company Contact Information:
Modis Navnirman Limited
Shop No. 5, CTS 947/A, Rashmi Tara Datta Mandir,
Kandivali (West), Mumbai- 400067
Mumbai
