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Modi's Navnirman IPO is a fixed price issue of ₹22.68 crores. The issue is entirely a fresh issue of 0.13 crore shares of ₹22.68 crore.
Modi's Navnirman IPO bidding started from Jun 23, 2022 and ended on Jun 28, 2022. The allotment for Modi's Navnirman IPO was finalized on Jul 1, 2022. The shares got listed on BSE SME on Jul 6, 2022.
Modi's Navnirman IPO price is ₹180.00 per share . The lot size for an application is 800. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (800 shares). The minimum lot size investment for HNI is 2 lots (1,600 shares), amounting to ₹2,88,000.
Aryaman Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Aryaman Capital Markets Ltd..
Refer to Modi's Navnirman IPO RHP for detailed Information.
| IPO Date | June 23, 2022 to June 28, 2022 |
| Listing Date | July 6, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹180 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 12,60,000 shares (aggregating up to ₹22.68 Cr) |
| Reserved for Market Maker | 68,000 shares Aryaman Capital Markets Ltd. (aggregating up to ₹1.22 Cr) |
| Net Offered to Public | 11,92,000 shares (aggregating up to ₹21.46 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 29,70,000 shares |
| Share Holding Post Issue | 42,30,000 shares |
Modis Navnirman IPO offers total 12,60,000 shares. Out of which 5,96,000 (47.30%) allocated to NII, 5,96,000 (47.30%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 68,000 (5.40%) |
| NII (HNI) Shares Offered | 5,96,000 (47.30%) |
| Retail Shares Offered | 5,96,000 (47.30%) |
| Total Shares Offered | 12,60,000 (100.00%) |
Modi's Navnirman IPO opens on June 23, 2022, and closes on June 28, 2022.
| IPO Open Date | Thu, Jun 23, 2022 |
| IPO Close Date | Tue, Jun 28, 2022 |
| Tentative Allotment | Fri, Jul 1, 2022 |
| Initiation of Refunds | Mon, Jul 4, 2022 |
| Credit of Shares to Demat | Tue, Jul 5, 2022 |
| Tentative Listing Date | Wed, Jul 6, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jun 28, 2022 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,44,000 |
| Retail (Max) | 1 | 800 | ₹1,44,000 |
| HNI (Min) | 2 | 1,600 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
| 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 market capitalization of Modi's Navnirman IPO is ₹76.14 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 57.32 |
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...
| Listing Date | July 6, 2022 |
| BSE Script Code | 543539 |
| NSE Symbol | |
| ISIN | INE0L0L01012 |
| Final Issue Price | ₹180 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹180.00 |
| Open | ₹189.00 |
| Low | ₹184.00 |
| High | ₹194.00 |
| Last Trade | ₹188.95 |
Modi's Navnirman Ltd.
Shop No. 5, CTS 947/A,
Rashmi Tara Datta Mandir,
Kandivali (West)
Mumbai, Maharashtra, 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://ipo.bigshareonline.com/IPO_Status.html
Modi's Navnirman IPO is a SME IPO of 12,60,000 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.
The IPO opens on June 23, 2022, and closes on June 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 Modi's Navnirman IPO using UPI as a payment gateway. Zerodha customers can apply in Modi's Navnirman IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Modi's Navnirman IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Modi's Navnirman IPO opens on June 23, 2022 and closes on June 28, 2022.
Modi's Navnirman IPO lot size is 800, and the minimum amount required for application is ₹1,44,000.
You can apply in Modi's Navnirman IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Modi's Navnirman IPO will be done on Friday, July 1, 2022, and the allotted shares will be credited to your demat account by Tuesday, July 5, 2022. Check the Modi's Navnirman IPO allotment status.
The Modi's Navnirman IPO listing date is on Wednesday, July 6, 2022.
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