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Modi's Navnirman Limited IPO (Modis Navnirman IPO) Detail

Jun 23, 2022 - Jun 28, 2022

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 Financials

Modi's Navnirman Limited Financial Information (Restated)
Period EndedTotal AssetsTotal Revenue Profit After Tax
31-Mar-20998.482195.46139.78
31-Mar-21735.211322.3437.83
31-Mar-223098.291151.07132.7
Amount in ₹ Lakhs

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 IPO Details

Modis Navnirman IPO Date Jun 23, 2022 to Jun 28, 2022
Modis Navnirman IPO Face Value ₹10 per share
Modis Navnirman IPO Price ₹180 per share
Modis Navnirman IPO Lot Size 800 Shares
Issue Size1,260,000 shares of ₹10
(aggregating up to ₹22.68 Cr)
Fresh Issue1,260,000 shares of ₹10
(aggregating up to ₹22.68 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Retail Shares Offered50% of the net offer
NII (HNI) Shares Offered50% of the net offer
Company Promoters

Dineshkumar Modi, Rashmi Modi and Mahek Modi are the company promoters.

Modis Navnirman IPO Timeline (Tentative Timetable)

Modis Navnirman IPO opens on Jun 23, 2022, and closes on Jun 28, 2022. The Modis Navnirman IPO bid date is from Jun 23, 2022 10.00 A.M. to Jun 28, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Modis Navnirman IPO Opening Date Jun 23, 2022
Modis Navnirman IPO Closing Date Jun 28, 2022
Basis of Allotment Jul 1, 2022
Initiation of Refunds Jul 4, 2022
Credit of Shares to Demat Jul 5, 2022
Modis Navnirman IPO Listing Date Jul 6, 2022

Modis Navnirman IPO Lot Size

The Modis Navnirman IPO lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹144,000).

Application Lots Shares Amount
Minimum 1 800 ₹144,000
Maximum 1 800 ₹144,000

Modis Navnirman IPO Promoter Holding

Pre Issue Share Holding 99.98%
Post Issue Share Holding 70.20%

Modis Navnirman IPO Review

MNL is operating in a highly competitive and fragmented segment of real estate. Its top line has marked declining trends while net profits have seen inconsistency. The issue is priced exorbitantly on the basis of super-profits posted for FY22. The inclusion of Godrej Properties and Macrotech Developers in its listed peers raises eyebrows. There is no harm in this greedily priced bet. Read detail review...


Modis Navnirman IPO Subscription Status (Bidding Detail)

The Modis Navnirman IPO is subscribed 1.99 times on Jun 28, 2022 7:53:00 PM. The public issue subscribed 1.22 times in the retail category, times in the QIB category, and 2.76 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII2.76
Retail1.22
Total1.99

Modis Navnirman IPO Prospectus

Modis Navnirman IPO Rating

64
2.6
Rating:Rated 2.6 stars
Vote Here ...

Modis Navnirman IPO Listing Date

Listing Date Wednesday, July 6, 2022
BSE Script Code 543539
NSE Symbol
Listing In MT Group of Securities
ISIN INE0L0L01012
IPO Price ₹180 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹180.00
₹189.00
₹184.00
₹194.00
₹188.95

Company Contact Information

Modi's Navnirman Limited
Shop No. 5, CTS 947/A,
Rashmi Tara Datta Mandir,
Kandivali (West), Mumbai- 400067
Phone: 98199 89100
Email: info@modisnirman.com
Website: https://modisnirman.com/

Modis Navnirman IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Modis Navnirman IPO Review

Modis Navnirman IPO Recommendation Summary

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Modis Navnirman IPO FAQs

Modis Navnirman IPO is a SME IPO of 1,260,000 equity shares of the face value of ₹10 aggregating up to ₹22.68 Crores. The issue is priced at ₹180 per share. The minimum order quantity is 800 Shares.

The IPO opens on Jun 23, 2022, and closes on Jun 28, 2022.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Modis Navnirman IPO using UPI as a payment gateway. Zerodha customers can apply in Modis Navnirman IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Modis Navnirman IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Modis Navnirman IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Modis Navnirman IPO opens on Jun 23, 2022 and closes on Jun 28, 2022.

Modis Navnirman IPO lot size is 800 Shares and the minimum order quantity is .

You can apply in Modis Navnirman IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Modis Navnirman IPO will be done on Jul 1, 2022, and the allotted shares will be credited to your demat account by Jul 5, 2022. Check the Modis Navnirman IPO allotment status.

The Modis Navnirman IPO listing date is on Wednesday, July 6, 2022.
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