Modern Engineering and Projects Rights Issue will open for subscription from 05 September 2024. the company aims for an issue size of ₹49.44 Crores through this rights Issue.
About the company
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.
Objectives of the Issue
- Towards purchase of fixed assets/ Machinery
- Towards repayment/prepayment of unsecured loan
- Augmenting our Working Capital Requirements; and
- General Corporate Purposes.
Modern Engineering and Projects Rights Issue Timetable
| Rights Issue Approval Date | 20 August 2024 |
| Rights Issue Record Date | 26 August 2024 |
| Credit of Rights Entitlement | 3 September 2024 |
| 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 | 20 September 2024 |
| Rights Allotment Date | 23 September 2024 |
| Credit Date | 25 September 2024 |
| Listing Date | 25 September 2024 |
Modern Engineering and Projects Rights Issue Details
| Issue Open | September 5, 2024 – September 17, 2024 |
| Security Name | Modern Engineering and Projects Limited |
| Issue Size (Shares) | 12,360,000 |
| Issue Size (Amount) | ₹49.44 Crores |
| Issue Price | ₹40 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The entire amount of the Issue Price of Rs 40/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 4 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| 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 |
Modern Engineering and Projects Rights Issue Documents
- Modern Engineering Rights Issue Application Form
- Modern Engineering Letter of Offer
- Board Meeting Outcome
Lead Manager(s)
Rights Issue Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: + 91- 022-4961 4132
Email: newissue@purvashare.com
Website: www.purvashare.com
Company Contact Information
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: +91 66666007
Email: cs@mep.ltd
Website: www.mep.ltd
Final Thoughts
Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.
Happy investing
