Modis Navnirman IPO Details: The date for Modi’s Navnirman IPO has been set. The Navnirman IPO will open on June 23, 2022, and close on June 28, 2022. Modi’s Navnirman Limited, situated in Mumbai, was founded in 2015. They are a construction company that specialises in real estate. They are now working on two residential projects and will be working on two more in the near future. They are now working on three residential and commercial projects, with three more on the way.
Modis Navnirman IPO Details
|IPO Opening Date||Jun 23, 2022|
|IPO Closing Date||Jun 28, 2022|
|Price Band||Rs. 180 per share|
|Lot Size||1800 Shares|
|Issue Size (Rs. Cr.)||1,260,000 shares of Rs.10 (aggregating up to Rs.22.68 Cr)|
|Fresh Issue||1,260,000 shares of Rs.10 (aggregating up to Rs.22.68 Cr)|
|Face Value||Rs. 10 per equity share|
|Issue Type||Fixed Price Issue IPO|
|Exchange Board||BSE, SME|
|Retail Shares Offered||50% of the net offer|
|NII (HNI) Shares Offered||50% of the net offer|
|Basis of Allotment Date||Jul 1, 2022|
|Initiation of Refunds||Jul 4, 2022|
|Credit of Shares to Demat Account||Jul 5, 2022|
|Modis Navnirman IPO Listing Date||Jul 6, 2022|
Modis Navnirman IPO Date
The subscription period for the Modis Navnirman Initial Public Offering (IPO) will begin on June 23, 2022. Modis Navnirman Ltd. has launched a public offering of 1260000 shares for cash at a premium of Rs 170.00 per share. The issue’s gross revenues are projected to be Rs 2,268.00 lakhs.
Modis Navnirman IPO Price
The price range for Modis Navnirman Limited’s initial public offering has been fixed at Rs 180 per equity share (IPO). The IPO involves a new issue of 1260000 equity shares at a price of Rs 180.00 per equity share.
Modis Navnirman IPO Lot Size
The minimum bid lot for the issue has been set at 800 shares, with bids in multiples of 800. The IPO lot size for Modis Navnirman is 800 shares. An individual retail investor can apply for up to one lot (800 shares or Rs. 144,000). Modis Navnirman Ltd. plans to use the proceeds of the offering to invest in a subsidiary business, SMNPL, in order to repay outstanding unsecured debts and for other corporate purposes. As lead manager, Aryaman Financial Services Ltd., and Bigshare Services Private Limited.
Modis Navnirman IPO Issue Size
Modi’s Navnirman is a BSE SME IPO to raise Rs. 22.68 crores via IPO. The Modi’s Navnirman IPO price band is fixed at Rs.180 with a market lot of 800 shares. You can check Modi’s Navnirman IPO subscription status and Modi’s Navnirman IPO allotment status on their respective pages.
Modis Navnirman IPO Allotment Date and Listing Date
The IPO for Modis Navnirman will open on 23 June 2022, and IPO close date is 28 June 2022. The Modis Navnirman IPO Allotment Date is 1 July 2022. The IPO Listing Date of Modis Navnirman IPO is 6 July 2022.
About Modis Navnirman Limited IPO
Modi’s Navnirman Limited is a real estate firm founded in 2015. Construction services are provided by the company. Modi’s Navnirman business model is based on designing and manufacturing products that cater to a wide range of consumer needs.
The company currently has two ongoing and two incoming residential projects, as well as three ongoing and three upcoming Residential-cum-Commercial projects.
All of Modi’s Navnirman’s completed, continuing, and future projects are in Mumbai. The word “Rashmi” appears throughout the project names of the company (such as “Rashmi Sadhna”, “Rashmi Sheela” “Rashmi Terrace”, etc).
Promoters of Modis Navnirman IPO
The company’s promoters are Dineshkumar Modi, Rashmi Modi and Mahek Modi.