Aegis Investment Fund PCC has increased its shareholding in Modis Navnirman Ltd to 8.42% through an open market acquisition on June 3, 2026. The acquirer purchased 457,142 equity shares, representing 2.33% of the total paid-up voting capital, as disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this transaction, the acquirer held 1,192,348 shares, which accounted for 6.09% of the capital.

Acquisition Details

The disclosure confirms that Aegis Investment Fund PCC does not belong to the promoter or promoter group of Modis Navnirman Ltd. The shares of the target company are listed on NSE and BSE Limited. The acquisition was executed entirely through the open market mechanism, with no other modes such as preferential allotment or inter-se transfers involved.

Holding Structure

Following the acquisition, the total holding of Aegis Investment Fund PCC along with Persons Acting in Concert (PACs) stands at 1,649,490 shares. The detailed breakdown of the shareholding before and after the transaction is outlined below.

The equity shares capital of Modis Navnirman Ltd before the said acquisition was 1,192,348, which increased to 1,649,490 shares post-acquisition. There are no warrants, convertible securities, or shares encumbered reported in the filing. The salient features of the securities acquired were noted as not applicable.

Modis Navnirman Limited has been appointed as the developer for the redevelopment of Neel Kiran Co-operative Housing Society Ltd., located in Khar West, Mumbai. The project is expected to contribute approximately ₹250 crore to the company's Gross Development Value (GDV) pipeline, strengthening its presence in the city's premium redevelopment segment. The appointment follows a selection process conducted by the society, where members chose Modis Navnirman Limited as their preferred partner.

Project Details

Neel Kiran CHSL is situated in a strategic location within Khar West, a residential market characterized by strong demand and established social infrastructure. The redevelopment aims to deliver modern residential infrastructure and enhanced amenities for existing members while creating long-term value. The project is subject to the execution of definitive documentation and receipt of requisite approvals from the society and relevant authorities.

Management Commentary

Mr. Dinesh Modi, Chairman & Managing Director of Modis Navnirman Limited, emphasized the partnership aspect of the initiative. He stated that the company's focus extends beyond construction to enhancing the quality of life for residents and unlocking the potential of urban land parcels. Modi expressed confidence that the development would reflect the aspirations of the society members and stand as a landmark addition to Khar West.

Strategic Impact

The mandate marks a significant milestone for Modis Navnirman Limited as it expands its footprint into one of Mumbai's most prestigious residential markets. The company continues to focus on responsible urban renewal and execution excellence across the western suburbs.