HomeIPO SMEModis Navnirman IPO Details

Modis Navnirman IPO Details

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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

DescriptionDetails
Public IssueInitial Public Issue of upto 12,60,000 Equity Shares of ₹ 10 (aggregating up to ₹ 2268 lakhs)
Issue Open  Date23-Jun-22
Issue Close Date28-Jun-22
Issue TypeFixed 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 InvestorRs. 2,00,000
Listing BSE SME
NSE SymbolMODIS
IPO Market Timings 10.00 a.m. to 5.00 p.m.

Modis IPO DRHP & RHP

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Modis Navnirman IPO DRHP
Modis Navnirman IPO RHP

Modis IPO Lot Size

ApplicationLotsNo of SharesAmount (Rs)
Minimum1800₹ 1,44,000
Maximum1800₹ 1,44,000

Modis IPO Lead Managers

  • Modis Navnirman Ltd

Modis IPO Registrar

Modis IPO Allotment Date, Listing Date and other Important Dates

DetailsDate
Bid / Offer Opens on23-Jun-22
Bid / Offer Closes on28-Jun-22
Finalisation of Basis of Allotment01-Jul-22
Initiation of refunds 04-Jul-22
Credit of the Equity Shares05-Jul-22
Listing Date06-Jul-22

Company Peers – Comparison of Accounting Ratios

Name of CompanyFace Value EPS (Basic)
(₹)
Total Income
(₹ in
lakhs)
NAV, as on March 31, 2021
(₹ per share)
Modi’s Navnirman Limited104.471,124.8912.84
Arihant Superstructures Limited1010.0233,093.7543.35
KBC Global Limited12.8010,164.522.27
Ajmera Realty & Infra India Limited1012.7548,268.00169.28
Hubtown Limited10(2.85)19,028.00177.24
Godrej Properties Limited512.681,82,488.00312.08
Macrotech Developers Limited1026.289,23,320.00251.4
Vascon Engineers Limited101.7665,303.0037.34

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

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