Bharat Road Networks files IPO draft papers with Sebi
The public issue consists of up to 29,300,000 equity shares of face value of Rs 10 each. The issue size is estimated to be around Rs. 1200 crore.
By Anandi Chandrashekhar, ET Bureau | Updated:
Mumbai: Bharat Road Network Limited (BRNL) a road build–operate–transfer company filed its Draft Red Herring Prospectus (DRHP) with SEBI for its Initial Public Offering ( IPO) on Friday.
The public issue consists of up to 29,300,000 equity shares of face value of Rs 10 each. The issue size is estimated to be around Rs. 1200 crore.
The company is focused on development, implementation, operation and maintenance of roads/highways projects.
The net proceeds from the issue will be used to advance subordinate debt in the form of interest free unsecured loan to its Subsidiary, Solapur Tollways Private Limited (STPL), part acquisition of the subordinated debt in form of interest free unsecured loan or debentures, advanced by SREI to STPL, Kurukshetra Expressway Private limited (KEPL) and Mahakaleshwar Tollways Private Limited (MTPL) and for general corporate purposes.
Final price band will be decided in consultation with the Book Running Lead Managers. INGA Capital Private Limited, Investec Capital Services (India) Private and SREI Capital Markets are book running lead managers to the issue and Karvy Computershare Private is the Registrar to the Issue.
The public issue consists of up to 29,300,000 equity shares of face value of Rs 10 each. The issue size is estimated to be around Rs. 1200 crore.
The company is focused on development, implementation, operation and maintenance of roads/highways projects.
The net proceeds from the issue will be used to advance subordinate debt in the form of interest free unsecured loan to its Subsidiary, Solapur Tollways Private Limited (STPL), part acquisition of the subordinated debt in form of interest free unsecured loan or debentures, advanced by SREI to STPL, Kurukshetra Expressway Private limited (KEPL) and Mahakaleshwar Tollways Private Limited (MTPL) and for general corporate purposes.
Final price band will be decided in consultation with the Book Running Lead Managers. INGA Capital Private Limited, Investec Capital Services (India) Private and SREI Capital Markets are book running lead managers to the issue and Karvy Computershare Private is the Registrar to the Issue.
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