Modern Engineering Rights Issue is scheduled on 5 – 17 September 2024
The company operates in the infrastructure sector, focusing on infrastructure construction, engineering, and related activities. Modern Engineering and Projects provides competitive business solutions in transportation engineering, civil construction, and other allied works under various models, including Build, Operate, and Transfer (BOT), Hybrid Annuity Mode (HAM), and Engineering, Procurement, and Construction (EPC).
The company’s services include engineering design, project planning and estimation, market studies, feasibility report preparation, project management, architectural and construction engineering, project commissioning, operations and maintenance, and specialized advisory services.
As of 31 December 2023, the company had 13 employees.
Promoters of Modern Engineering – Vaishali S Mulay, Shashikant Bhoge, Jashandeep Singh and Jetra Infrastructure Private Limited
Modern Engineering Rights Issue Details
| Modern Engineering Rights Issue Date | 5 – 17 September 2024 |
| Modern Engineering Rights Issue Price | INR 40 per share |
| Issue Size (in Shares) | 1,23,60,000 shares |
| Issue Size (in INR) | INR 49.44 crore |
| Issue Entitlement | 4 equity shares for every 1 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Modern Engineering Rights Issue Record Date | 26 August 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
Modern Engineering Rights Issue Calculation
| Modern Engineering Rights Issue Price | INR 40 per share |
| Market Price on Rights Issue Approval | INR 162.35 per share |
| Dilution Factor (X) | 5 |
| Fair Value After Dilution at Prevailing Price | INR 64.47 per share |
Modern Engineering Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 1.34 | 67.80 | 93.22 |
| Expenses | 3.16 | 70.54 | 83.35 |
| Operating Margin (%) | (135.82) | (4.04) | 10.59 |
| Net Income | (2.99) | (2.65) | 3.65 |
| ROCE (%) | (44.12) | (36.73) | 98.77 |
*All Standalone Data
Modern Engineering Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Purchase of Fixed Assets/ Machinery – INR 5.46 crore
- Augmenting its working capital requirements – INR 26 crore
- Toward Repayment / pre-payment of unsecured loan – INR 5.97 crore
- General Corporate Purposes
Modern Engineering Rights Offer Documents
Modern Engineering Rights Issue Dates
| Rights Issue Approval Date | 20 August 2024 |
| Rights Issue Record Date | 26 August 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 5 September 2024 |
| Last Date for Market Renunciation | 11 September 2024 |
| Rights Issue Closing Date | 17 September 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Modern Engineering Rights Offer Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone:Â + 91- 022-4961 4132
Email: [email protected]
Website: www.purvashare.com
MODERN ENGINEERING AND PROJECTS LIMITED
103/4, Plot 215, Free Press House,
FL-10 Free Press Journal Marg,
Nariman Point, Mumbai 400 021, Maharashtra
Phone:Â +91 66666007
Email: [email protected]
Website: www.mep.ltd
Modern Engineering Rights Offer FAQs
What is Modern Engineering Rights Issue Price?
The issue price is INR 40 per share.
What is the Modern Engineering Rights Issue entitlement ratio?
The eligible shareholders are offered 4 Equity Shares for every 1 Equity Shares held on the record date.
What is the Modern Engineering Rights Issue Record Date?
The Record date is 26 August 2024.
How to Apply in Modern Engineering Rights Offer?
The best way to apply in the Modern Engineering Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
