Modis Navnirman to Migrate to Main Board, Merge Subsidiary

13 Jun 2025 CW Team

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.

The move to the main boards marks a major milestone in the company’s growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, enhance liquidity, and strengthen its brand presence.

In parallel, the approved merger with its subsidiary is aimed at streamlining operations, improving cost efficiency, and consolidating resources to sharpen the company’s competitive edge in the market.

Commenting on the development, Mr Dinesh Modi, Chairman and Managing Director, stated:

“We are excited to take this important step in our journey as a public company. The transition to the main board of BSE and NSE reflects our commitment to transparency and strong governance. It opens new avenues for growth, while enhancing visibility and liquidity for our valued shareholders.

The merger is a strategic step towards building a more efficient and unified organisation. We believe this consolidation will strengthen our core operations, optimise resource utilisation, and better position us for future growth.”

The twin initiatives are expected to accelerate Modis Navnirman’s long-term ambitions, reinforcing its standing in the capital markets and improving its operational foundation.

Infrastructure Transport

17 Sep 2025

Three Firms Shortlisted for Rs 332 Million Delhi Metro Contract

Three firms have qualified for the electrification contract D2E-12 of Delhi Metro Phase 4’s Line 10 and Line 5 extension. Line 10 spans 23.622 km, connecting Aerocity and Tughlakabad with 15 stations, while the Line 5 extension covers 12.58 km between Inderlok and Indraprastha with 10 stations.In June 2025, the Delhi Metro Rail Corporation (DMRC) invited bids for this contract. The technical bids were opened on 4 August 2025, with four firms submitting proposals. During the evaluation, one firm’s bid was rejected.The three qualified firms are:M/s A.K. Infra ProjectsM/s Kalpataru Projects I..

L&T Seeks to Sell Hyderabad Metro Stake Amid Financial Losses

Infrastructure major Larsen & Toubro Limited (L&T) has expressed its intention to sell its stake, exceeding 90 per cent, in the L&T Hyderabad Metro Rail project to either the state or central government through a new Special Purpose Vehicle (SPV), citing operational and accumulated losses.In a letter addressed to the Ministry of Housing and Urban Affairs (MoHUA), L&T Metro Rail stated that despite repeated follow-ups, the Telangana government has not provided the expected financial assistance. The delay is worsening the financial distress of the concessionaire, making the situa..

Ixigo Launches Delhi Metro Ticketing on Its Trains App

Online travel aggregator (OTA) ixigo has partnered with the Delhi Metro Rail Corporation (DMRC) and the Open Network for Digital Commerce (ONDC) to launch Delhi Metro ticketing on the ixigo Trains app on 12 September.As part of the collaboration, ixigo Trains now offers QR-based metro tickets with in-app payments. Users can plan and book end-to-end journeys across trains, buses, flights, hotels and now metro services on a single platform.The DMRC operates nearly 400 km of network across more than a dozen lines, making it India’s largest and busiest metro system. In August 2025, it recorded i..