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:
- Experienced Management Team.
- Established brand and reputation.
- Proven execution capabilities.
- Strong project pipeline providing cash flow visibility
Company Financials
| 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 |
Objects of the Issue
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.
Modis Navnirman IPO Details
| Modis Navnirman IPO Date | Jun 23, 2022 to Jun 28, 2022 |
| Modis Navnirman IPO Face Value | ₹10 per share |
| Modis Navnirman IPO Price | ₹180 per share |
| Modis Navnirman IPO Lot Size | 800 Shares |
| Issue Size | 1,260,000 shares of ₹10 (aggregating up to ₹22.68 Cr) |
| Fresh Issue | 1,260,000 shares of ₹10 (aggregating up to ₹22.68 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Retail Shares Offered | 50% of the net offer |
| NII (HNI) Shares Offered | 50% of the net offer |
| Company Promoters | Dineshkumar Modi, Rashmi Modi and Mahek Modi are the company promoters. |
Modis Navnirman IPO Timeline
Modis Navnirman IPO opens on Jun 23, 2022, and closes on Jun 28, 2022. The Modis Navnirman IPO bid date is from Jun 23, 2022 10.00 A.M. to Jun 28, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Modis Navnirman IPO Opening Date | Jun 23, 2022 |
| Modis Navnirman IPO 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 |
| Modis Navnirman IPO Listing Date | Jul 6, 2022 |
Modis Navnirman IPO Lot Size
The Modis Navnirman IPO lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹144,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 800 | ₹144,000 |
| Maximum | 1 | 800 | ₹144,000 |
Modis Navnirman IPO Promoter Holding
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding | 70.20% |
Modis Navnirman IPO Review
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…
Modis Navnirman IPO Subscription Status (Bidding Detail)
The Modis Navnirman IPO is subscribed 1.07 times on Jun 27, 2022 10:59:00 AM. The public issue subscribed 0.27 times in the retail category, times in the QIB category, and 1.87 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) |
|---|---|
| NII | 1.87 |
| Retail | 0.27 |
| Total | 1.07 |
Modis Navnirman IPO Prospectus
Company Contact Information
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/
Modis Navnirman IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com