Bharat Road Network IPO

Bharat Road Network IPO

BRNL IPO

Business description from prospectus - Bharat Road Network is involved in operating toll based BOT Projects wherein we have the right to collect toll or user fees. Our Company performs a range of project management functions, including design, engineering, EPC management and quality control. We also provide project advisory activities including, project management consultancy, project conceptualisation, commissioning, operation and management of the projects during the entire life cycle of our projects. We also undertake debt syndication, refinancing and financial restructuring of our projects.

We 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. Our 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. Our Project under Construction is located in the state of Maharashtra. Our 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 we are awaiting final COD. Our 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 6 - 8 September 2017
Price Band INR195 - 205 per share
Fresh issue 29,300,000 shares (INR571.35 - 600.65 crore)
Offer For Sale Nil
Total IPO size 29,300,000 shares (INR571.35 - 600.65 crore)
Minimum bid (lot size) 73 shares
Face Value  INR10 per share
Retail Allocation 10%
Listing On NSE, BSE
Bharat Road Network's financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017
Total revenue 3.06 9.64 41.49 4.25 14.93
Total expenses 2.79 9.67 9.33 3.66 8.12
Profit after tax -16.88 -60.76 -26.42 -92.54 -73.88

Bharat Road Network Contact Details

Bharat Road Network Limited 
5th Floor (north east block),Vishwakarma Building,
86C Topsia Road (South)
Kolkata – 700 046

Phone: +91 33 6602 3609
Fax: 
+91 33 6602 3243
Email:
[email protected]
Website: www.brnl.in

Registrar of Bharat Road Network IPO

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551 
Email:
 [email protected]
Website: www.karvycomputershare.com

Valuation of Bharat Road Network (Based on latest FY)

Earnings Per Share (EPS): -INR26.51

Price/Earnings (P/E) ratio: Not applicable

Return on Net Worth (RONW): -17.19%

Net Asset Value (NAV): INR78.64 per share

Bharat Road Network IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 21,975,000 0.18 0.52 1.32
NII 4,395,000 0.00 0.63 1.63
Retail 2,930,000 0.73 2.06 5.20
Total 29,300,000  0.21 0.69 1.76

Bharat Road Network IPO Allotment Status

Bharat Road Network IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status. You can also check allotment status using application number on this link.

LISTING PERFORMANCE OF Bharat Road Network

IPO Opening Date: 6 September 2017

IPO Closing Date: 8 September 2017

Finalisation of Basis of Allotment: 13 September 2017

Initiation of refunds: 14 September 2017

Transfer of shares to demat accounts: 14 September 2017

Listing Date: 18 September 2017

Listing Price on NSE: INR205 per share (no change from IPO price)

Closing Price on NSE: INR208.45 per share (up 1.7% from IPO price)

9 COMMENTS

  1. MY REVIEW ON THIS IPO IS DAMN NEGATIVE, BECAUSE CONSISTENT LOSSES FROM LAST 5 YEARS, PROFIT AND LOSS ACCOUNT SHOWS. pata nahi CNBC wale is IPO ko kyo promote kar rahe h.

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