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Modis Navnirman IPO is a fixed price issue of Rs 22.68 crores. The issue is entirely a fresh issue of 12.6 lakh shares.
Modis Navnirman IPO bidding started from June 23, 2022 and ended on June 28, 2022. The allotment for Modis Navnirman IPO was finalized on Friday, July 1, 2022. The shares got listed on BSE SME on July 6, 2022.
Modis Navnirman IPO price is ₹180 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹288,000.
Aryaman Financial Services Limited is the book running lead manager of the Modis Navnirman IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Modis Navnirman IPO RHP for detailed information.
| IPO Date | June 23, 2022 to June 28, 2022 |
| Listing Date | July 6, 2022 |
| Face Value | ₹10 per share |
| Price | ₹180 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 1,260,000 shares (aggregating up to ₹22.68 Cr) |
| Fresh Issue | 1,260,000 shares (aggregating up to ₹22.68 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Market Maker portion | 68,000 shares |
Modis Navnirman IPO offers 1,260,000 shares. 596,000 (47.30%) to NII, 596,000 (47.30%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 68,000 (5.40%) |
| Other Shares Offered | 596,000 (47.30%) |
| Retail Shares Offered | 596,000 (47.30%) |
| Total Shares Offered | 1,260,000 (100%) |
Modis Navnirman IPO opens on June 23, 2022, and closes on June 28, 2022.
| IPO Open Date | Thursday, June 23, 2022 |
| IPO Close Date | Tuesday, June 28, 2022 |
| Basis of Allotment | Friday, July 1, 2022 |
| Initiation of Refunds | Monday, July 4, 2022 |
| Credit of Shares to Demat | Tuesday, July 5, 2022 |
| Listing Date | Wednesday, July 6, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 28, 2022 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 | |||
Dineshkumar Modi, Rashmi Modi and Mahek Modi are the company promoters.
| Share Holding Pre Issue | 99.98% |
| Share Holding Post Issue | 70.20% |
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:
| Period Ended | 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 |
| Amount in ₹ Lakhs | |||
The market capitalization of Modis Navnirman IPO is Rs 76.14 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 57.32 |
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.
[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...
The Modis Navnirman IPO is subscribed 1.99 times on June 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)
| Category | Subscription (times) |
|---|---|
| Other | 2.76 |
| Retail | 1.22 |
| Total | 1.99 |
| Listing Date | July 6, 2022 |
| BSE Script Code | 543539 |
| NSE Symbol | |
| ISIN | INE0L0L01012 |
| Final Issue Price | ₹180 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹180.00 |
| ₹189.00 |
| ₹184.00 |
| ₹194.00 |
| ₹188.95 |
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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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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 June 23, 2022, and closes on June 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
Visit Zerodha IPO Application Process Review for more detail.
The Modis Navnirman IPO opens on June 23, 2022 and closes on June 28, 2022.
Modis Navnirman IPO lot size is 800 Shares, and the minimum amount required is ₹144,000.
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 Friday, July 1, 2022, and the allotted shares will be credited to your demat account by Tuesday, July 5, 2022. Check the Modis Navnirman IPO allotment status.
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