Bharat Road Network IPO
Bharat Road Network is involved in operating toll based BOT Projects wherein they have the right to collect toll or user fees. Company performs a range of project management functions, including design, engineering, EPC management and quality control. They also provide project advisory activities including, project management consultancy, project conceptualisation, commissioning, operation and management of the projects during the entire life cycle of they projects. They also undertake debt syndication, refinancing and financial restructuring they projects.
BRNL have a project portfolio consisting of six BOT Projects, of which two are Projects operational under Final COD, three are Projects operational under Provisional COD and one is a Project under Construction. They Projects operational under Final COD and Projects operational under Provisional COD are located in the states of Kerala, Madhya Pradesh, and Haryana, Uttar Pradesh and Odisha, respectively. The Project under Construction is located in the state of Maharashtra. The Projects operational under Final COD and Projects operational under Provisional COD cover approximately 1,622.44 lane kms, including major and minor bridges and approximately 12 lane kms and 60.72 lane kms are under construction at the GAEPL Project and SJEPL Project, respectively for which they are awaiting final COD. They Project under Construction involves development of 400.24 lane kms, including major and minor bridges.
Promoters of Bharat Road Network – SREI Infrastructure Finance Limited and Make In India Fund
Bharat Road Network IPO details
Subscription Dates: 06 – 08 September 2017
Price Band: INR 195 – 205 per share
Fresh issue: 29,300,000 shares (INR 571.35 – 600.65 crore)
Offer For Sale: Nil
Total IPO size: 29,300,000 shares (INR 571.35 – 600.65 crore)
Minimum bid (lot size): 73 shares
Face Value: INR 10 per share
Retail Allocation: 10%
Listing On: NSE, BSE
Objects of the Issue:
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.
Tentative timetable in respect of the Offer:
• Bid/Offer Opens On: September 06, 2017
• Bid/Offer Closes On: September 08, 2017
• Finalisation of Basis of Allotment: On or about September 13, 2017
• Initiation of refunds: On or about September 14, 2017
• Credit of Equity Shares to demat accounts: On or about September 14, 2017
• Listing on the Stock Exchanges: On or about September 18, 2017
Please contact us today for application at 033 40266300
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