Modi's Navnirman Ltd - IPO

Modi's Navnirman Ltd IPO Details

Initial public offer of 12,60,000 equity shares of Rs. 10 each (Equity Shares) of Modi's Navnirman Limited (MNL or the Company) for cash at a price of Rs. 180 per share (the Issue Price), aggregating to Rs. 22.68 crores (The Issue), of which 68,000 equity shares of Rs. 10 each will be reserved for subscription by market maker to the issue (the Market Maker Reservation Portion). The issue less market maker reservation portion i.e. issue of 11,92,000 equity shares of Rs. 10 each is hereinafter referred to as the Net Issue. The issue and the net issue will constitute 29.79% and 28.18%, respectively of the post issue paid up equity share capital of the company.The face value of the equity share is Rs. 10 and the issue price is 18 times of the face value.

Objective of issue

Investment in subsidiary company - SMNPL for repayment of its outstanding unsecured loans. General corporate purposes.

Modi's Navnirman Ltd Contact Details

Modi's Navnirman Ltd, Office No 56-2, Pinnacle Busine.Park, Mahakali Caves Road, Mumbai - 400093

Phone - 91-22-62638200

Fax - 91-22-63638299

Email - info@modisnirman.com

Website - www.modisnirman.com