Fixed Price IPO | ₹23 Cr | Listed at BSE SME | Thu, Jun 23, 2022 - Tue, Jun 28, 2022
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Thu, Jun 23, 2022
IPO Close
Tue, Jun 28, 2022
Issue Price
₹180 per share
Market Cap (Pre-IPO)
₹76.14 Cr
| IPO Date | 23 to 28 Jun, 2022 |
| Listed on | Wed, Jul 6, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹180 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 12,60,000 shares (agg. up to ₹23 Cr) |
| Reserved for Market Maker | 68,000 shares Aryaman Capital Markets Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 11,92,000 shares (agg. up to ₹21 Cr) |
| Net Offered to Public | 11,92,000 shares (agg. up to ₹21 Cr) |
| Share Holding Pre Issue | 29,70,000 shares |
| Share Holding Post Issue | 42,30,000 shares |
| BSE Script Code | 543539 MODIS |
| ISIN | INE0L0L01012 |
Modi's Navnirman IPO comprises a total issue size of 12,60,000 shares. The net offer to the public is 11,92,000 shares, after excluding 68,000 shares allotted on a firm basis. Of the Net offer 5,96,000 (50.00%) allocated to NII 5,96,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,96,000 | 50.00% | 47.30% |
| Retail Shares Offered | 5,96,000 | 50.00% | 47.30% |
| Firm Reservations | |||
| Market Maker Shares Offered | 68,000 | 5.40% | |
| Total Shares Offered | 12,60,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| 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 |
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 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 30.98 | 7.35 | 9.98 |
| Total Income | 11.51 | 13.22 | 21.95 |
| Profit After Tax | 1.33 | 0.38 | 1.40 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in subsidiary company – SMNPL for Repayment of its outstanding unsecured loans | 17.79 |
| 2 | General Corporate Purpose | 4.21 |
| KPI | |
|---|---|
| Debt/Equity | 4.95 |
| RoNW | 34.81% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.47 | |
| P/E (x) | 57.32 | |
| Promoter Holding | 99.98% | 70.20% |
| Market Cap | ₹76.14 Cr. |
The Modis Navnirman IPO is subscribed 1.99 times on June 28, 2022 7:53:00 PM (Day 4). The public issue subscribed 1.22 times in the retail category, [.] times in the QIB category, and 2.76 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.76 | 5,96,000 | 16,47,200 |
| Retail | 1.22 | 5,96,000 | 7,28,000 |
| Total | 1.99 | 11,92,000 | 23,75,200 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.32 |
| 2 | Brokerage and selling commission | 0.11 |
| 3 | Printing & Stationery, Distribution, Postage, etc | 0.02 |
| 4 | Advertisement and Marketing Expenses | 0.02 |
| 5 | Stock Exchange Fees, Regulatory and other Expenses | 0.22 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹180.00 |
| Open | ₹189.00 |
| Low | ₹184.00 |
| High | ₹194.00 |
| Last Trade | ₹188.95 |
Lead Manager Reports
Modi's Navnirman IPO is a SME IPO of 12,60,000 equity shares of the face value of ₹10 aggregating up to ₹23 Crores. The issue is priced at ₹180 per share. The minimum order quantity is 800.
The IPO opens on Thu, Jun 23, 2022, and closes on Tue, Jun 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 Thu, Jun 23, 2022 and closes on Tue, Jun 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 Tue, Jul 5, 2022. Check the Modi's Navnirman IPO allotment status.
The Modi's Navnirman IPO listing date is on Wed, Jul 6, 2022.
