Modis Navnirman Limited became the Three Hundred and Seventy Eighth Company to get listed on BSE SME Platform

The company engaged into construction of residential and commercial projects, business would adversely be affected by variation in availability, cost and quality of raw materials and labour.

Modi’s Navnirman Limited became the 378th company to get listed on the BSE SME Platform on July 06, 2022. The company came out with an initial public offering of 12,60,000 equity shares of Rs10 each for cash at a price of Rs. 180 per equity share, aggregating to Rs. 22.68 crore. The company successfully completed its public issue on June 28, 2022.

Modi’s Navnirman Limited is a Maharashtra-based company whose registered office is in Mumbai. The company engaged in the construction of residential and commercial projects, business would adversely be affected by variation in availability, cost and quality of raw materials and labour. Company procure building materials for our projects, such as steel, cement, flooring products, hardware, bitumen, sand and aggregates, doors and windows, bathroom fixtures, and other interior fittings, from third-party suppliers

Mumbai-based ARYAMAN FINANCIAL SERVICES LIMITED was the lead manager of Modi’s Navnirman Limited.

So far, 146 companies have migrated to the main board. The 377 companies listed on the BSE SME Platform have raised Rs.4,011 crore from the market and the total market capitalization of 377 companies as of July 05, 2022, is Rs. 51,000 Crore. BSE is the market leader in this segment with a market share of 61 percent.

SEBI came out with detailed guidelines on May 18, 2010 for the launching of SME Exchange/Platform. BSE was the first stock exchange to get approval from SEBI and launch its SME platform on March 13, 2012.

The response since the launch of this platform by BSE has been very positive to date.