Modis Navnirman IPO subscription is to open on 23 June 2022 and will close on 28 June 2022, the price band of the Modis Navnirman IPO is fixed at ₹ 180. The company is engaged in the construction industry for more than a decade. Check the Modis Navnirman Subscription Status & Allotment Status.
About Modis Navnirman
The Modi Group is an established Mumbai based group having its presence in the construction industry for more than a decade. The group was founded by the promoter Mr. Dineshkumar Modi in year 2009. In the years following its inception the group concentrated on developing affordable housing in the residential segment. Modi Group has so for constructed 7 residential and commercial projects (Namely i) Rashmi Tara ii) Rashmi Chaaya, iii) Badshahs Residency, iv) Rashmi Sadhna, v) Rashmi Sheela, vi) Mrunali, vii) Rashmi Kunj) in the western suburbs of Mumbai specifically in and around the areas of Borivali, Kandivali, Malad and Goregaon.
The group has 5 projects, which are currently under construction. As on the date of this Prospectus, the Company, the subsidiary (SMNPL) and proprietary concern of the promoter (Modis Nirman) have constructed and delivered possession of approximately 1.45 lakhs sq. ft. of carpet area of residential units. (This translates into a constructed area i.e. 2.10 lakhs sq. ft).
Objects of the Issue
- Investment in subsidiary company – SMNPL for Repayment of its outstanding unsecured loans;
- General Corporate Purpose
Modis Navnirman Limited Financials:
Summary of financial Information (Restated Consolidated Statement)
| Particulars | For the year ended (₹ in lakh) | ||
|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 3,098.29 | 735.21 | 998.48 |
| Total income | 1,151.07 | 1,322.34 | 2,195.46 |
| Total Expenses | 964.13 | 1,271.21 | 2,001.81 |
| Profit After Tax | 132.70 | 37.83 | 139.78 |
Modis IPO Price – Details
| Description | Details |
|---|---|
| Public Issue | Initial Public Issue of upto 12,60,000 Equity Shares of ₹ 10 (aggregating up to ₹ 2268 lakhs) |
| Issue Open Date | 23-Jun-22 |
| Issue Close Date | 28-Jun-22 |
| Issue Type | Fixed Price |
| IPO Price Band | ₹ 180 |
| Face Value | ₹ 10 |
| Market Lot | 800 Equity Shares and in multiples thereof |
| Minimum Order Quantity | 800 Equity Shares |
| Maximum Subscription Amount for Retail Investor | Rs. 2,00,000 |
| Listing | BSE SME |
| NSE Symbol | MODIS |
| IPO Market Timings | 10.00 a.m. to 5.00 p.m. |
Modis IPO DRHP & RHP
Modis Navnirman IPO DRHP
Modis Navnirman IPO RHP
Modis IPO Lot Size
| Application | Lots | No of Shares | Amount (Rs) |
| Minimum | 1 | 800 | ₹ 1,44,000 |
| Maximum | 1 | 800 | ₹ 1,44,000 |
Modis IPO Lead Managers
- Modis Navnirman Ltd
Modis IPO Registrar
Modis IPO Allotment Date, Listing Date and other Important Dates
| Details | Date |
|---|---|
| Bid / Offer Opens on | 23-Jun-22 |
| Bid / Offer Closes on | 28-Jun-22 |
| Finalisation of Basis of Allotment | 01-Jul-22 |
| Initiation of refunds | 04-Jul-22 |
| Credit of the Equity Shares | 05-Jul-22 |
| Listing Date | 06-Jul-22 |
Company Peers – Comparison of Accounting Ratios
| Name of Company | Face Value | EPS (Basic) (₹) | Total Income (₹ in lakhs) | NAV, as on March 31, 2021 (₹ per share) |
| Modi’s Navnirman Limited | 10 | 4.47 | 1,124.89 | 12.84 |
| Arihant Superstructures Limited | 10 | 10.02 | 33,093.75 | 43.35 |
| KBC Global Limited | 1 | 2.80 | 10,164.52 | 2.27 |
| Ajmera Realty & Infra India Limited | 10 | 12.75 | 48,268.00 | 169.28 |
| Hubtown Limited | 10 | (2.85) | 19,028.00 | 177.24 |
| Godrej Properties Limited | 5 | 12.68 | 1,82,488.00 | 312.08 |
| Macrotech Developers Limited | 10 | 26.28 | 9,23,320.00 | 251.4 |
| Vascon Engineers Limited | 10 | 1.76 | 65,303.00 | 37.34 |
Company Corporate Office
Shop No. 1, Rashmi Heights,
M G Road, Opp. Kamla Nagar,
Kandivali (West),
Mumbai-400067.
Website: www.modisnirman.com
Company Registered Office
Shop 5, CTS 947/A ,
Rashmi Tara Datta Mandir,
Kandivali (West) Mumbai – 400067.
Company Promoters
- Dineshkumar Modi
- Rashmi Modi and
- Mahek Modi
Modis Navnirman IPO – FAQS
What is the Modis Navnirman IPO Price?
The Modis Navnirman IPO price band is 180 per share
When Modis Navnirman IPO will open?
The Modis Navnirman IPO opens on Jun 23, 2022 and closes on Jun 28, 2022
What is the lot size of Modis Navnirman IPO?
The Modis Navnirman IPO lot size is 800 Equity Shares and the minimum order quantity is 800 Equity Shares
Who is the Registrar for Modis Navnirman IPO?
The Registrar for Modis Navnirman IPO is Bigshare Services Private Limited
How to apply in Modis Navnirman IPO through UPI?
Check the step by step process here – Click here
How to apply in Modis Navnirman IPO through Zerodha?
Check the step by step process here – Click here
Follow us on Telegram for all the latest updates