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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:
| 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 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 |
| Other Shares Offered | 596,000 (50.00%) |
| Retail Shares Offered | 596,000 (50.00%) |
| Market Maker portion | 68,000 shares |
| Total Shares Offered | 1,192,000 |
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 |
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 | |||
Dineshkumar Modi, Rashmi Modi and Mahek Modi are the company promoters.
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding | 70.20% |
| 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 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 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)
| Category | Subscription (times) |
|---|---|
| Other | 2.76 |
| Retail | 1.22 |
| Total | 1.99 |
| Listing Date | Jul 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://www.bigshareonline.com/
Are you an SME company looking for an IPO to raise funds and get listed in the stock market? We can help. Contact us today... SME IPO Enquiry Form
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
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.
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