Modis Navnirman IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Feb 17, 2023Let’s have a detailed review of the company and analytics of the Modis Navnirman IPO release date, IPO offer price, subscription, Modis Navnirman Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 180 |
| Listing At | BSE, SME |
| Min. Order Quantity | 800 Shares |
| Listing Date | Jul 6, 2022 |
| Offer for Sale | Rs Lakhs |
| Fresh Issue | Rs 2268 Lakhs |
| IPO Size | Rs 2268 Lakhs |
| Tick Size | 1 |
Modis Navnirman IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Modis Navnirman IPO – Summary
The real estate business of the Company was originally carried on as a Limited Liability Partnership firm under the LLP Act, 2008 in the style of M/s. Modi’s Navnirman LLP (the “LLP”) pursuant to a LLP deed dated January 05, 2016, as amended and supplemented from time to time.
Dineshkumar Modi and Mahek Modi were the appointed as Designated Partners of the LLP. The incorporation certificate was received from the Registrar of Companies, Mumbai at Maharashtra on December 31, 2015 having LLPIN AAF-4160.
Vide subsequent LLP Deeds, while certain partners were introduced in order to raise capital or to obtain their industry expertise, some of them retired at will.
The last LLP Deed dated March 31, 2021 as amended and supplemented from time to time, was made among Dineshkumar Modi, Mahek Modi, Rashmi Modi, Payal Sheth, Samir Sheth, Rinkle Doshi, and Urvish Doshi (the “Erstwhile Partners”).
With an intention to expand the construction horizons, their Company had acquired 100.00 % stake in Shree Modi’s Navnirman Private Limited. (“SMNPL”) & thereby making it their Wholly Owned Subsidiary Company.
Modis Navnirman IPO Date
The opening and the closing date of Modis Navnirman IPO are Jun 23, 2022 and Jun 28, 2022 Respectively.
Modis Navnirman IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 23rd Jun | 1.00x | 0.09x | 0.55x |
| 2nd Day – 24th Jun | 1.77x | 0.19x | 0.98x |
| 3rd Day – 27th Jun | 2.09x | 0.41x | 1.25x |
| 4th Day – 28th Jun | 2.76x | 1.22x | 1.99x |
| Shares Offered or Net Issue | 596,000 | 596,000 | 1,192,000 |
The shares subscribed by the public will be updated here.
Check Modis Navnirman IPO LIVE Subscription
- Modis Navnirman IPO LIVE Bid details on BSE
- Modis Navnirman IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Modis Navnirman IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Modis Navnirman Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Jul 1, 2022 |
| Refunds Initiation | Jul 4, 2022 |
| Credit of Shares to Demat Account | Jul 5, 2022 |
| Share Listing Date | Jul 6, 2022 |
Modis Navnirman IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.180
Modis Navnirman IPO Equity Size
This Initial Public Issue of 1,260,000 Equity Shares of Rs.10 each for cash at a price of Rs.180 per equity share aggregating to Rs.2268 Lakhs.
Modis Navnirman IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 1,260,000 Equity Shares of Rs.10/ each.
Issue Size: 1,260,000 Equity Shares of Rs.10 each, aggregating to Rs.2268 Lakhs
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Modis Navnirman IPO – Live Performance
The listing date of this IPO is Jul 6, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Modis Navnirman Share Price |
Modis Navnirman IPO Grey Market Premium
The Modis Navnirman Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Modis Navnirman IPO – Company Overview
Their customer-centric business model focuses on designing and developing their products to address consumer needs across price points. They have capabilities to deliver a project from conceptualization to completion with fast turnaround time from acquisition to launch to completion, which focuses on de-risking and improving their return on investment.
They streamline their supply chain and construction processes with an aim to develop high quality products consistently and in a timely and cost efficient manner. Modis Navnirman partner with top architects and design team which uses customer insights to conceptualize and design products that are best suited for the current location and target a variety of customer groups.
Their construction management and procurement teams focus on realizing efficiencies in procurement, vendor selection and construction. Their in-house sales team is supported by a well skilled execution team which delivers precisely designed products and amenities to its customers. They believe one of the reasons for their success in recent years has been their ability to convert the surroundings of a location into attractive destinations for people across income groups.
Modis Navnirman IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||
| 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 3098.29 | 735.21 | 998.48 |
| Total Revenue | 1151.07 | 1322.34 | 2195.46 |
| Total Expense | 964.13 | 1,271.21 | 2,001.81 |
| Profit After Tax | 132.7 | 37.83 | 139.78 |
Earnings per Equity Share (in Lakhs)
| 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 4.47 | 1.27 | 4.71 |
Further, their PAT for the period ended on March 31, 2022, March 31, 2021, and March 31, 2020, were Rs.132.7 Lakhs, Rs.37.83 Lakhs and Rs.139.78 respectively.
Modis Navnirman IPO – Promoters
The Promoter of this company is:
- Dineshkumar Modi
- Rashmi Modi
- Mahek Modi
List of Related Parties (Key Managerial Personnel)
- Dineshkumar Modi, Chairperson and Managing Director
- Mahek Modi, Whole Time Director
- Rashmi Modi, Whole Time Director
- Payal Sheth, Non–Executive Director
- Hiren Rupani, Non-Executive Independent Director
- Vinit Meht, Non-Executive Independent Director
Modis Navnirman IPO – Promoters Holding
- Pre Issue Share Holding – 99.98%
- Pos Issue Share Holding – 70.20%
Modis Navnirman IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 12,60,000 Equity Shares aggregating up to Rs.2268 Lakhs |
| of which: | |
| Issue Reserved for the Market Makers | Up to 68,000 Equity Shares aggregating up to Rs.122.40 Lakhs |
| Net Issue to the Public | Up to 11,92,000 Equity Shares aggregating up to Rs.2145.60 Lakhs |
| Of which: | |
| Retail Investors Portion | Not less than 5,96,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 5,96,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 29,70,000 Equity Shares |
| Equity Shares outstanding after the Issue | 42,30,000 Equity Shares |
Modis Navnirman IPO Issue Object
Their Company proposes to utilize the Net Proceeds 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 – Business Strategy
- Increase geographical presence
- To build-up a professional organization
- Continue to strengthen relationships with key service providers and take benefit of scalability by outsourcing model
- Continue to maintain a low debt balance sheet
Modis Navnirman IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Management Team
- Established brand and reputation
- Their proven execution capabilities
- Strong project pipeline providing cash flow visibility
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 4.47 | 34.81 | 12.84 |
| 31-Mar-21 | 1.27 | 12.77 | – |
| Mar-20 | 4.71 | 47.06 | – |
Modis Navnirman IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Modis Navnirman Limited | 10 | 40.27 | 4.47 | 34.81 | 1,124.89 |
| Listed Peers | |||||
| Arihant Superstructures Limited | 10 | 13.65 | 10.2 | 23.19 | 33,093.75 |
| KBC Global Limited | 1 | 1.81 | 2.8 | 12.40 | 10,164.52 |
| Ajmera Realty & Infra India Limited | 10 | 21.39 | 12.75 | 7.56 | 48,268.00 |
| Hubtown Limited | 10 | (18.65) | (2.85) | (10.10) | 19,028.00 |
| Godrej Properties Limited |
5 | 110.28 | 12.68 | 4.04 | 182,488.00 |
| Macrotech Developers Limited | 10 | 36.83 | 26.28 | 9.98 | 923,320.00 |
| Vascon engineers Limited | 10 | 13.35 | 1.76 | 4.43 | 65,303.00 |
Modis Navnirman IPO Lead Managers
| Lead Managers |
| ARYAMAN FINANCIAL SERVICES LIMITED 60, Khatau Building, Ground Floor, Alkesh Dinesh Modi Marg Fort, Mumbai – 400 001 Tel No.: +91 22 6216 6999 Email: ipo@afsl.co.in Website: www.afsl.co.in Investor Grievance Email: feedback@afsl.co.in Contact Person: Vatsal Ganatra SEBI Registration No. INM000011344 |
Modis Navnirman IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Office No. S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves Road, Next to Ahura Centre. Andheri (East), Mumbai – 400 093 Tel. No.: +91 22 6263 8200 Email: ipo@bigshareonline.com Website: www.bigshareonline.com Investor Grievance Email: investor@bigshareonline.com Contact Person: Babu Raphael SEBI Registration No.: INR000001385 |
Modis Navnirman IPO – Other Details
- Statutory Auditor – M/s. D G M S & CO.
- Legal Counsel to the Company – Abdus Samee Abdul Qadir Maniyar (A. A. Maniyar) (Advocate)
- Bankers to the Company – KOTAK MAHINDRA BANK
Modis Navnirman IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Modis Navnirman Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Modis Navnirman IPO Review FAQs
Check out various FAQs related to Modis Navnirman IPO:
What is the Issue Size of Modis Navnirman IPO?
The Company is making an initial public offer of 1,260,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
What is the Price band of Modis Navnirman IPO?
The price band for this particular IPO ranges between Rs.180. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Modis Navnirman IPO Open Date?
The opening and closing dates for Modis Navnirman IPO have been updated. The IPO is set to open on Jun 23, 2022, while the closing date is set at Jun 28, 2022.
What is the Modis IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Jul 1, 2022, refund initiation is on Jul 4, 2022, credit of shares is on Jul 5, 2022, and share listing date is on Jul 6, 2022.
What is the Modis Navnirman IPO Listing Date?
Shares of this company shall be listed in the exchanges Jul 6, 2022. The date, when the listing would be done, is stagnant on Jul 6, 2022.
Who is the Registrar of Modis Navnirman IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Modis IPO?
Here are the promoters of this IPO – Dineshkumar Modi, Rashmi Modi, Mahek Modi. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is GMP of Modis Navnirman IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Modis IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Modis Navnirman Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakhs is 132.7, 2021 is 37.83, 2020 is 139.78.
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