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

Modis Navnirman IPO Details

IPO Date Jun 23, 2022 to Jun 28, 2022
Listing Date Jul 6, 2022
Face Value ₹10 per share
Price ₹180 per share
Lot Size 800 Shares
Total Issue Size1,260,000 shares
(aggregating up to ₹22.68 Cr)
Fresh Issue1,260,000 shares
(aggregating up to ₹22.68 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME

Modis Navnirman IPO Reservation

Other Shares Offered596,000 (50.00%)
Retail Shares Offered596,000 (50.00%)
Market Maker portion68,000 shares
Total Shares Offered1,192,000

Modis Navnirman IPO Tentative Timetable

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

Event Tentative Date
Opening Date Jun 23, 2022
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
Listing Date Jul 6, 2022
UPI Mandate Confirmation Cut-Off Time 5.00 PM on the issue closing day

Modis Navnirman IPO Lot Size

The Modis Navnirman IPO lot size is 800 shares.

Application Lots Shares Amount
Retail (Min) 1 800 ₹144,000
Retail (Max) 1 800 ₹144,000
HNI (Min) 2 1,600 ₹288,000
Lot Size Calculator

Modis Navnirman IPO Promoter Holding

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

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

Company Financials

Modi's Navnirman Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After Tax
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 Review (Avoid)

[Dilip Davda]  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)

Modis Navnirman IPO Prospectus

Modis Navnirman IPO Rating

Rating:Rated 2.6 stars
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Modis Navnirman IPO Listing Details

Listing Date Jul 6, 2022
BSE Script Code 543539
NSE Symbol
Final Issue Price ₹180 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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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: https://www.bigshareonline.com/

Modis Navnirman IPO Analysis

Modis Navnirman IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 0

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SME IPO Enquiry

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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, Nuvama, 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 Jul 6, 2022.
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Modis Navnirman IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Most Liked Members



14. Dinesh Singh |   Link |Jul 6, 2022 11:09:42 AM
IPO Guru IPO Guru (1200 Posts, 500+ Likes)
sold 2 lot @189 pre open
14.1. NaveenM |   Link |Jul 6, 2022 2:40:46 PM
I sold 4 lots @189.05 in the secondary market. I had applied for listing gains and hence, there wasn't any point in waiting.
14.2. Dinesh Singh |   Link |Jul 6, 2022 3:25:24 PM
IPO Guru IPO Guru (1200 Posts, 500+ Likes)
keep minting.
13. Singh's kin |   Link |Jul 6, 2022 10:33:46 AM
Congratulations to alottees, It listed positive. Real estate is still very grey in today's India.
12. Ritesh kohinkar |   Link |Jun 28, 2022 3:10:51 PM
Modis Navnirman limited IPO is risky and investors can avoid since its financial performance is not good....
11. DarshanJain |   Link |Jun 28, 2022 3:07:28 PM
Modi Navnirman Limited IPO being Horribly Worse, Extremely Worse, Worse, Too Bad and Bad
10. Ahmedabadi Tadka |   Link |Jun 28, 2022 3:04:09 PM
Modiji, hamesha success.
Naam hi Kafi hey. Success ki guarantee for promoters.
For investor invest for long term, vapas mat mango. Decade investment.
9. IPO Gyaaan |   Link |Jun 24, 2022 4:23:40 PM (200+ Posts)
Subscription wise going good.
8. svh |   Link |Jun 24, 2022 10:06:56 AM
IPO Guru IPO Guru (1500+ Posts, 2700+ Likes)
Ye Modi he , yaha lene ke dene pad jayenge.

Comparing to last time the coincident combination of Bigshare , Aryaman , 180 Rs. issue price , Real Estate company and Maharashtra I remembered the listing of Karda construction.

8.1. ValueSeeker |   Link |Jun 28, 2022 8:22:49 AM (200+ Posts)
I am not applying here, but Karda (now, KBC Global) gave fantastic multibagger returns and exit opportunity for a sufficiently long period of time.
8.2. svh |   Link |Jul 1, 2022 6:25:28 PM
IPO Guru IPO Guru (1500+ Posts, 2700+ Likes)
Karda / KBC is penny stock now hitting UC / LC both on same trading day.
Karda / KBC - CMP : 3.45
7. SANJEEV SOOD |   Link |Jun 23, 2022 8:19:55 PM (200+ Posts)
Having resisted the temptation of applying to SME IPO’s. For all these years. I applied and got LE MAR. and Sonu.

I just managed to get out with meagre profit ( by luck ). Sir mundate he ole pade 😡😡 any comments?
6. Avenue |   Link |Jun 22, 2022 2:50:04 PM
1. Modi's, 2. Pearl Green, 3. KCK, 4. Mangalam and 5. Sailani Tours

Please arrange the five upcoming SME IPOs in your views of being Horribly Worse, Extremely Worse, Worse, Too Bad and Bad…

And Thanks to SEBI/NSE/BSE who by floating such IPOs have helped forum members in treatment of Chittorgarh Addiction...much needed...
6.5. Trueinfo |   Link |Jun 27, 2022 1:50:06 PM
IPO Guru IPO Guru (1300+ Posts, 1500+ Likes)
Flying and down, both together?
6.6. i For IPO ☑️ |   Link |Jun 28, 2022 10:54:13 AM
IPO Mentor IPO Mentor (500+ Posts, 700+ Likes)
Flying down means its in down Trend
5. i For IPO ☑️ |   Link |Jun 23, 2022 1:26:32 PM
IPO Mentor IPO Mentor (500+ Posts, 700+ Likes)

sorry auto correct
4. i For IPO ☑️ |   Link |Jun 22, 2022 8:55:35 AM
IPO Mentor IPO Mentor (500+ Posts, 700+ Likes)
Wah Modi ji wah
4.1. Divya. |   Link |Jun 23, 2022 12:34:10 PM
Inflation @ 15% wah.
3. antarix |   Link |Jun 22, 2022 2:25:54 PM
IPO Mentor IPO Mentor (500+ Posts, 500+ Likes)
One of the objectives of this IPO is towards investment in subsidiary company - SMNPL for Repayment of its outstanding unsecured loans.

Something we should stay away from.
2. Mudit |   Link |Jun 20, 2022 5:11:30 PM
issue price is Rs. 180 for such a big company. it think, its price may be 580. what a issue price ?
1. vgoel |   Link |Jun 20, 2022 11:57:58 AM
Profit of INR 1.3 Cr and asking valuation of INR 75 Cr. Stay away.