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Modis Navnirman IPO

Modis Navnirman (IPO) Incorporated in 2015. It 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 EndedTotal AssetsTotal RevenueProfit After Tax
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.

IPO Details

Modis Navnirman IPO DateJun 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 Size800 Shares
Issue Size1,260,000 shares of ₹10
(aggregating up to ₹22.68 Cr)
Fresh Issue1,260,000 shares of ₹10
(aggregating up to ₹22.68 Cr)
Issue TypeFixed Price Issue IPO
Listing AtBSE SME
Retail Shares Offered50% of the net offer
NII (HNI) Shares Offered50% of the net offer
Company PromotersDineshkumar Modi, Rashmi Modi and Mahek Modi are the company promoters.

IPO Timeline

IPO opens on Jun 23, 2022, and closes on Jun 28, 2022. 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.

Modis Navnirman IPO Opening DateJun 23, 2022
Modis Navnirman IPO Closing DateJun 28, 2022
Basis of AllotmentJul 1, 2022
Initiation of RefundsJul 4, 2022
Credit of Shares to DematJul 5, 2022
Modis Navnirman IPO Listing DateJul 6, 2022

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).


IPO Promoter Holding

Pre Issue Share Holding99.98%
Post Issue Share Holding70.20%

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: [email protected]

IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: [email protected]

IPO Lead Manager(s)

  1. Aryaman Financial Services limited