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Bharat Road Network IPO is a book built issue of Rs 600.65 crores.
Bharat Road Network IPO bidding started from September 6, 2017 and ended on September 8, 2017. The allotment for Bharat Road Network IPO was finalized on Wednesday, September 13, 2017. The shares got listed on BSE, NSE on September 18, 2017.
Bharat Road Network IPO price band is set at ₹195 to ₹205 per share. The minimum lot size for an application is 73 Shares. The minimum amount of investment required by retail investors is ₹14,965.
Investec Capital Services (India) Pvt Ltd and Iti Capital Ltd are the book running lead managers of the Bharat Road Network IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Bharat Road Network IPO RHP for detailed information.
| IPO Date | September 6, 2017 to September 8, 2017 |
| Listing Date | September 18, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹195 to ₹205 per share |
| Lot Size | 73 Shares |
| Total Issue Size | 29,300,000 shares (aggregating up to ₹600.65 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 54,650,000 |
| Share holding post issue | 83,950,000 |
Bharat Road Network IPO offers 29,300,000 shares. 21,975,000 (75.00%) to QIB, 4,395,000 (15.00%) to NII, 2,930,000 (10.00%) to RII. 40,136 RIIs will receive minimum 73 shares and (sNII) and (bNII) will receive minimum 1,022 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 21,975,000 (75.00%) | NA |
| NII (HNI) Shares Offered | 4,395,000 (15.00%) | |
| Retail Shares Offered | 2,930,000 (10.00%) | 40,136 |
| Total Shares Offered | 29,300,000 (100%) |
Bharat Road Network IPO opens on September 6, 2017, and closes on September 8, 2017.
| IPO Open Date | Wednesday, September 6, 2017 |
| IPO Close Date | Friday, September 8, 2017 |
| Basis of Allotment | Wednesday, September 13, 2017 |
| Initiation of Refunds | Thursday, September 14, 2017 |
| Credit of Shares to Demat | Thursday, September 14, 2017 |
| Listing Date | Monday, September 18, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 8, 2017 |
Investors can bid for a minimum of 73 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 73 | ₹14,965 |
| Retail (Max) | 13 | 949 | ₹194,545 |
| Lot Size Calculator | |||
Incorporated in 2006, Bharat Road Network Limited, a subsidiary of SREI Infrastructure Finance Ltd is engaged in the business of development, implementation, operation, and maintenance of roads/highways projects.
Bharat Road involved in the development, operation and maintenance of national and state highways in several states in India with projects in states of Uttar Pradesh, Kerala, Haryana, Madhya Pradesh, Maharashtra and Odisha through partnerships with experienced EPC players in the local space where the project is located.
Company offers a range of project management services, including design, engineering, and quality control, as well as engineering, processing, and construction management; and project advisory services, such as project management consultancy, project conceptualization, commissioning, and operation and management of the projects, as well as undertakes debt syndication, refinancing, and financial restructuring of its projects.
Their project portfolio consisting of six (6) BOT Projects, of which two (2) are Projects operational under Final COD, three (3) are Projects operational under Provisional COD and one (1) is a Project under Construction.
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 12,323.91 | 8,368.03 | 6,289.65 | 5,159.45 | 3,277.50 | |
| Total Revenue | 149.28 | 42.52 | 414.88 | 96.40 | 30.59 | |
| Profit After Tax | (738.85) | (925.44) | (264.22) | (607.61) | (168.77) | |
The object of the issue are:
1. Advancing of subordinate debt in form of interest free unsecured loan to their Subsidiary, STPL, for part financing of the STPL Project ("STPL Sponsor Investment");
2. Acquisition of the subordinated debt in the form of unsecured loan s/OCPIDs/warrants/OCDs, advanced/held by SREI to STPL, KEPL and MTPL ("Identified SPVs");
3. Benefits of listing of its Equity Shares on the Stock Exchanges; and
4. General corporate purposes.
[Dilip Davda] Company has carried forward losses that will take time for wiping off. Hence there is no harm in giving this IPO a miss. Read detail review...
The Bharat Road Network IPO is subscribed 1.81 times on September 8, 2017 5:00:00 PM. The public issue subscribed 5.69 times in the retail category, 1.33 times in the QIB category, and 1.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.33 |
| NII | 1.63 |
| Retail | 5.69 |
| Total | 1.81 |
| Listing Date | September 18, 2017 |
| BSE Script Code | 540700 |
| NSE Symbol | BRNL |
| ISIN | INE727S01012 |
| Final Issue Price | ₹205 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹205.00 |
| ₹204.90 |
| ₹196.50 |
| ₹218.65 |
| ₹208.15 |
| NSE |
|---|
| ₹205.00 |
| ₹205.00 |
| ₹195.35 |
| ₹218.90 |
| ₹208.45 |
Bharat Road Network Limited
Mirania Gardens,
10B/1, Topsia Road (East),
Kolkata – 700 046
Phone: +91 33 4409 9140
Email: corporate@brnl.in
Website: http://www.brnl.in
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: brnl.ipo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Bharat Road Network IPO is a main-board IPO of 29,300,000 equity shares of the face value of ₹10 aggregating up to ₹600.65 Crores. The issue is priced at ₹195 to ₹205 per share. The minimum order quantity is 73 Shares.
The IPO opens on September 6, 2017, and closes on September 8, 2017.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Bharat Road Network IPO opens on September 6, 2017 and closes on September 8, 2017.
Bharat Road Network IPO lot size is 73 Shares, and the minimum amount required is ₹14,965.
You can apply in Bharat Road Network IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Bharat Road Network IPO will be done on Wednesday, September 13, 2017, and the allotted shares will be credited to your demat account by Thursday, September 14, 2017. Check the Bharat Road Network IPO allotment status.
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