₹49.44 Crores | Listing at BSE | Thu, Sep 5, 2024 - Wed, Sep 25, 2024
Modern Engineering and Projects Limited Rights Issue comprises 1.24 Cr equity shares aggregating to ₹49.44 Cr, offered at an issue price of ₹40 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Aug 26, 2024, with the Rights Issue being offered in the entitlement ratio of 4 : 1.
The term of payment is defined as following : The entire amount of the Issue Price of Rs 40/- per Rights Equity Share shall be payable at the time of Application.
The Rights Entitlements are expected to be credited to eligible demat accounts on .
The Rights Issue opens on Sep 5, 2024, and closes on Sep 25, 2024, with renunciation of Rights Entitlements permitted up to Sep 11, 2024.
The deemed date of allotment is [.] following which the equity shares are expected to be credited to demat accounts on and listed at the BSE on [.].
Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Modern Engineering and Projects Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Mon, Aug 26, 2024
Entitlement Ratio
4 : 1
Open Date
Thu, Sep 5, 2024
Close Date
Wed, Sep 25, 2024
The entire amount of the Issue Price of Rs 40/- per Rights Equity Share shall be payable at the time of Application.
Modern Engineering and Projects Limited's revenue increased by 226.37% and profit after tax (PAT) rose by 44.52% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 35.77 | 20.79 | 3.33 |
| Revenue | 68.02 | 20.84 | 0.08 |
| Profit After Tax | -2.53 | -4.56 | -0.04 |
| Net Worth | -3.98 | -1.48 | 3.07 |
| Reserves and Surplus | 0.23 | 0.24 | 0.23 |
| Total Borrowing | 6.12 | 7.14 | |
| Amount in ₹ Crore | |||
Incorporated in 1946, Modern Engineering and Projects Limited operates primarily in the Infrastructure Sector, focusing on infrastructure construction, engineering, and related activities.
The company offers various services in transportation engineering, civil construction, and related works under the Build, Operate, and Transfer (BOT) model, Hybrid Annuity Mode (HAM), and Engineering, Procurement, and Construction (EPC).
The company offers engineering design, project planning, market studies, feasibility report preparation, project management, architectural and construction engineering, project commissioning, operations and maintenance, and special advisory services.
As of August 20, 2024, the company had a total of 15 employees.
The Company proposes to utilize the Net Proceeds towards funding the following Objects:
[Dilip Davda] The company is engaged in infrastructure sector and providing its services for BOT, HAM and EPC projects. It posted losses till FY23 and turned the corner from FY24. The RI is at a discount of around 32% based on its last traded price, but it still a “High Risk/Low Return” bet. Well-informed investors may pork moderate funds for long term. Read detail review...
Modern Engineering and Projects Rights Issue 2024 got oversubscribed by 1.77 times by the end of the bidding period with total bid quantity received by BSE of 2,19,16,412 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Sep 25 2024 17:00:00 | 2,19,16,412 | 1.77x |
Modern Engineering and Projects Limited
Unit 103 & 104, Plot 215
10th Floor, Free Press House
Nariman Point, Mumbai-400021
Nariman Point, Maharashtra, 400021
Purva Sharegistry (India) Pvt.Ltd.
The Modern Engineering and Projects Rights Issue 2024 opens on Thu, Sep 5, 2024, and closes on Wed, Sep 25, 2024.
Modern Engineering and Projects Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Tue, Sep 3, 2024 |
| Last Date for renunciation of Rights Entitlements | Wed, Sep 11, 2024 |
| Issue Opening Date | Thu, Sep 5, 2024 |
| Issue Closing Date | Wed, Sep 25, 2024 |
| Date of Allotment (on or about) | |
| Date of Credit (on or about) | |
| Date of Listing (on or about) |
You can apply for Modern Engineering and Projects Rights Issue 2024 in two ways:
Steps to apply for Modern Engineering and Projects Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Modern Engineering and Projects Rights Issue 2024 using Registrar's website (R-WAP)
