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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 ₹205.00 per share . The lot size for an application is 73. The minimum amount of investment required by an retail is ₹14,235 (73 shares). 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 Date | September 6, 2017 to September 8, 2017 |
| Listing Date | September 18, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹195 to ₹205 per share |
| Issue Price Final | ₹205 per share |
| Lot Size | 73 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 2,93,00,000 shares (aggregating up to ₹600.65 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,46,50,000 shares |
| Share Holding Post Issue | 8,39,50,000 shares |
Bharat Road Network IPO offers total 2,93,00,000 shares. Out of which 2,19,75,000 (75.00%) allocated to QIB, 43,95,000 (15.00%) allocated to NII, 29,30,000 (10.00%) allocated to RII.
| Investor Category | Shares Offered | Maximum 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%) |
Bharat Road Network IPO opens on September 6, 2017, and closes on September 8, 2017.
| IPO Open Date | Wed, Sep 6, 2017 |
| IPO Close Date | Fri, Sep 8, 2017 |
| Tentative Allotment | Wed, Sep 13, 2017 |
| Initiation of Refunds | Thu, Sep 14, 2017 |
| Credit of Shares to Demat | Thu, Sep 14, 2017 |
| Tentative Listing Date | Mon, Sep 18, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 8, 2017 |
Investors can bid for a minimum of 73 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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.
| 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 Company Bharat Road Network IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[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...
| Listing Date | September 18, 2017 |
| BSE Script Code | 540700 |
| NSE Symbol | BRNL |
| ISIN | INE727S01012 |
| Final Issue Price | ₹205 per share |
| BSE Listing Group | B |
Bharat Road Network Ltd.
Mirania Gardens,
10B/1, Topsia Road (East),
Kolkata – 700 046
Kolkata, West Bengal
Phone: +91 33 4409 9140
Email: corporate@brnl.in
Website: http://www.brnl.in
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: brnl.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
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 ₹600.65 Crores. The issue is priced at ₹205 per share. The minimum order quantity is 73.
The IPO opens on September 6, 2017, and closes on September 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 September 6, 2017 and closes on September 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 Thursday, September 14, 2017. Check the Bharat Road Network IPO allotment status.
The Bharat Road Network IPO listing date is on Monday, September 18, 2017.
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