The Initial Public Offerings(IPOs) for the week are-
Modis Navnirman Limited-
The Modis Group was founded by Mr. Dineshkumar Modi in 2009 and is an established Mumbai-based group having its presence in the construction industry for more than a decade. The group has so far constructed 7 commercial and residential projects in the Western suburbs of Mumbai in the areas around Borivali, Kandivali, Malad, and Goregaon. It has five projects currently under construction. The company has delivered 1.45 lakhs sq. ft. of carpet area for residential units.
Since its inception, the company has been focused on the mid-market and affordable housing categories as the target segment. The company doesn’t have any borrowings from banks or financial institutions and all the assets are free of charge. The company is transitioning to a real estate development model with a shift towards an asset-light business strategy. It currently has ongoing and upcoming projects which are expected to provide an estimated carpet area of 5.80 lakhs square feet.
The company proposes to utilize the proceeds from the issue towards funding investment in subsidiary company SMNPL for repayment of unsecured loans and general corporate purpose.
The company had revenues of Rs 2.59 crore with a net profit of 22.52 lakh (Year ended March 31, 2019), revenues of Rs. 21.94 crore with a profit of Rs. 1.39 crore (Year ended March 31, 2020) and revenue of Rs. 13.21 crore with a net profit of Rs. 37.8 lakh (Year ended March 31, 2021).
KCK Industries Limited-
The company was incorporated in Chandigarh in 2013 as KCK sales private limited. KCK industries limited is engaged in the business of trading and distribution of high-quality combed and carded cotton yarns ranging from Ne 4 to Ne 40 in single and multifold and knitted fabrics. The yarns are suitable for apparel, undergarments, terry towels, denim, medical fabrics, furnishing fabrics, and industrial fabrics. The supply is to customers in the field of apparel and garment industry, industrial fabrics, furnishing fabrics, towels, denim, etc.
The trading activity of the company includes trading and distribution of high-quality chemicals and dyes for the textile industry, leather and paper industries. It is into the business of trading chemicals and dyes since its inception and the business adds value at all stages of the chemical and dyes trading value chain. It has expanded its range to specialty chemicals and caters to various industries like dyestuff and dye intermediaries, textiles, and specialty chemicals.
The company acquired a Rice Sheller plant in the year 2021-22 and the manufacturing plant is fully integrated and started its operations in April 2022. The capacity of the plant is 12 tons/ hour and the current utilization is 7 Ton/hour. It processes both non-basmati and basmati rice
The promoters of the company are Mr. Jagdish Prasad Arya and Mrs. Reena Sharma. The objects of the issue are to part finance the working capital requirements; general corporate purpose and the listing of the shares will enhance the brand image of the company.
The company had revenues of Rs 40.94 crore with a net profit of 20.71 lakh (Year ended March 31, 2019), revenues of Rs. 51.49 crore with a profit of Rs. 31.91 lakh (Year ended March 31, 2020) and revenue of Rs. 39.11 crore with a net profit of Rs. 19.25 lakh (Year ended March 31, 2021).
Pearl Green Club and Resorts Limited-
Pearl Green Club and Resorts Limited is currently engaged in the business of agriculture and allied activities. The agricultural products that it trades in are wheat, corn, rice, cotton seeds, pulses, cereals, peas, etc. The company is planning to enter into the business of Tourism and Hospitality and has proposed to open a resort in the name of Pearl Green Clubs and Resort in Gandhinagar. The project is in proximity to the dream project of our Prime Minister the GIFT City(Gujarat International Financial Tech City) which will be the major customer segment for the hotel. The property where the company proposes to build a resort is a leased property.
The promoters of the company are Mr. Hemantsingh Naharsingh Jhala and Mrs. Rekhadevi Hemantsingh Jhala. The objects of the issue are to meet the capital expenditure requirements of the company, general corporate expenses and the company believes listing would enhance its brand image of the company.
The company had revenues of Rs. 56.97 lakhs with a profit of Rs. 3.91 lakh (Year ended March 31, 2020) and revenue of Rs. 3.75 crore with a net profit of Rs. 6.54 lakh (Year ended March 31, 2021).
Sailani Tours N Travels Limited-
Sailani tours N travels limited has evolved in its 3-year journey and is one of the recognized holiday brands that cater to the travel needs of the Indian and International traveler. The business of the company can be broadly classified into; corporate travel, leisure travel, forex, and visa processing. It designs travel packages for both individuals and groups for their domestic and international leisure travel. The company makes travel arrangements for corporate clients to cater to their business meetings, conferences, and events.
Sailani tours N travels limited provides end-to-end solutions that include land, air, and cruise bookings, hotel bookings, in-transit arrangements, local sightseeing, visa, passport, and medical insurance assistance. It also provides travel-related foreign exchange and payment solutions. In leisure travel, it has 2 sub-segments; outbound travel and domestic travel and in these segments, they sell holiday packages for travel in India and overseas. Under corporate travel, it offers a full range of business travel through its team of relationship managers.
The promoters of the company are Mr. Krishna Kumar Chanani and Ms. Sunita Chanani. The proceeds of the issue would be utilized to meet working capital requirements and general corporate purposes.
The company had revenues of Rs. 4.27 crore with a profit of Rs. 5.39 lakh (Year ended March 31, 2020) and revenue of Rs. 1.09 crore with a net profit of Rs. 3.14 lakh (Year ended March 31, 2021).