Modis Navnirman Limited (BSE: 543539), one of Mumbai’s fastest-growing and most promising real estate players in the redevelopment space, is pleased to announce the successful completion of it fast-track merger with its wholly-owned subsidiary, Shree Modis Navnirman Private Limited.
This strategic merger marks a significant milestone in the Company’s growth journey, as it becomes India’s second fast track merger and the first listed fast track merger in the real estate segment in Mumbai which has been approved by over 90% of the shareholders, reflecting the strong confidence and support of investors in the Company’s vision and future prospects.
The consolidation of both entities is expected to strengthen Modis Navnirman’s balance sheet, enhance operational efficiencies, and streamline business processes. The merger will also enable better resource utilization, cost synergies, and improved shareholder value creation while reinforcing the Company’s leadership position in the redevelopment real estate space.
Management Comment:
Commenting on this development, Mr. Mahek Modi, Whole Time Director and Chief Financial Officer, Modis Navnirman Limited, said:
“The successful completion of this merger marks a historic moment for Modis Navnirman. With this strategic consolidation, we are better positioned to accelerate our growth and strengthen our foothold in Mumbai’s dynamic real estate market. Being India’s second listed merger and the first in the city’s real estate sector, this milestone reflects our commitment to transparent governance, strategic foresight, and value creation for all stakeholders. We thank our shareholders for their overwhelming support and trust in our vision.”
