Bookbuilding IPO | ₹601 Cr | Listed at BSE, NSE | Wed, Sep 6, 2017 - Fri, Sep 8, 2017
Bharat Road Network IPO is a book build issue of ₹600.65 crores. The issue is entirely a fresh issue of 2.93 crore shares of ₹600.65 crore.
Bharat Road Network IPO bidding started from Sep 6, 2017 and ended on Sep 8, 2017. The allotment for Bharat Road Network IPO was finalized on Sep 13, 2017. The shares got listed on BSE, NSE on Sep 18, 2017.
Bharat Road Network IPO price band is set at ₹205 per share. The lot size for an application is 73. The minimum amount of investment required by an retail is ₹14,965 (73 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,022 shares), amounting to ₹2,09,510, and for bNII, it is 67 lots (4,891 shares), amounting to ₹10,02,655.
Investec Capital Services (India) Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Bharat Road Network IPO RHP for detailed Information.
IPO Open
Wed, Sep 6, 2017
IPO Close
Fri, Sep 8, 2017
Issue Price
₹205 per share
Market Cap (Pre-IPO)
₹1,720.98 Cr
| IPO Date | 6 to 8 Sep, 2017 |
| Listed on | Mon, Sep 18, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹195 to ₹205 |
| Issue Price | ₹205 per share |
| Lot Size | 73 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,93,00,000 shares (agg. up to ₹601 Cr) |
| Fresh Issue | 2,93,00,000 shares (agg. up to ₹601 Cr) |
| Share Holding Pre Issue | 5,46,50,000 shares |
| Share Holding Post Issue | 8,39,50,000 shares |
| BSE Script Code / NSE Symbol | 540700 / BRNL |
| ISIN | INE727S01012 |
Bharat Road Network IPO comprises a total issue size of 2,93,00,000 shares. Out of which, 2,19,75,000 (75.00%) are allocated to QIB, 43,95,000 (15.00%) allocated to NII 29,30,000 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 2,19,75,000 | 75.00% | NA |
| NII (HNI) Shares Offered | 43,95,000 | 15.00% | NA |
| Retail Shares Offered | 29,30,000 | 10.00% | 40,136 |
| Total Shares Offered | 2,93,00,000 | 100.00% |
Investors can bid for a minimum of 73 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 73 | ₹14,965 |
| Retail (Max) | 13 | 949 | ₹1,94,545 |
| S-HNI (Min) | 14 | 1,022 | ₹2,09,510 |
| S-HNI (Max) | 66 | 4,818 | ₹9,87,690 |
| B-HNI (Min) | 67 | 4,891 | ₹10,02,655 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | STPL Sponsor Investment | 51.47 |
| 2 | Acquisition of the subordinated debt in the form of unsecured loans/ OCPIDs/ warrants/ OCDs, advanced/held by SREI to/in the Identified SPVs | 372.25 |
| 3 | General corporate purposes | 144.12 |
The Bharat Road Network IPO is subscribed 1.81 times on September 8, 2017 5:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.33 | 2,19,75,000 | 2,91,64,230 |
| NII | 1.63 | 43,95,000 | 71,78,674 |
| Retail | 5.69 | 29,30,000 | 1,66,62,250 |
| Total | 1.81 | 2,93,00,000 | 5,30,05,154 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 19.86 |
| 2 | Commission/ processing fee for SCSBs and Bankers to the Issue, Brokerage and selling commission for Registered Brokers | 2.14 |
| 3 | Registrar to the Issue | 0.20 |
| 4 | Other advisors to the Issue | 2.39 |
| 5 | Others | |
| 6 | Listing fees, SEBI filing fees, book building software fees | 2.46 |
| 7 | Printing and stationery | 1.13 |
| 8 | Advertising and marketing expenses | 3.90 |
| 9 | Miscellaneous | 0.72 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹205.00 | ₹205.00 |
| Open | ₹204.90 | ₹205.00 |
| Low | ₹196.50 | ₹195.35 |
| High | ₹218.65 | ₹218.90 |
| Last Trade | ₹208.15 | ₹208.45 |
Lead Manager Reports
Bharat Road Network IPO is a main-board IPO of 2,93,00,000 equity shares of the face value of ₹10 aggregating up to ₹601 Crores. The issue is priced at ₹205 per share. The minimum order quantity is 73.
The IPO opens on Wed, Sep 6, 2017, and closes on Fri, Sep 8, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bharat Road Network IPO using UPI as a payment gateway. Zerodha customers can apply in Bharat Road Network IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bharat Road Network IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bharat Road Network IPO opens on Wed, Sep 6, 2017 and closes on Fri, Sep 8, 2017.
Bharat Road Network IPO lot size is 73, and the minimum amount required for application is ₹14,965.
You can apply in Bharat Road Network IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Thu, Sep 14, 2017. Check the Bharat Road Network IPO allotment status.
The Bharat Road Network IPO listing date is on Mon, Sep 18, 2017.
