Bharat Road Network IPO Oversubscribed 1.80 Times On Last Day

Posted By:
Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    The initial public offer of Bharat Road Network was over-subscribed 1.80 times on the last day of bidding on Friday.

    The IPO of Bharat Road Network, a Srei Infrastructure Finance company, received bids for 5,27,44,398 shares against the total issue size of 2,93,00,000 shares, data available with the NSE till 7.15 pm showed. ICICI Lombard IPO: Know The Details

    Bharat Road Network IPO Oversubscribed 1.80 Times On Last Day

    The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 1.33 times, non-institutional investors 1.63 times and retail investors 5.57 times. Bharat Road Network has fixed price band of Rs 195-205 per share for its IPO and aims to raise over Rs 600 crore. 

    Net proceeds from the issue will be utilized towards advancing of subordinate debt in the form of the interest-free unsecured loan to its subsidiary STPL for part-financing of the STPL Project, among others. Inga Capital, Investec Capital Services, and Srei Capital Markets are managing the IPO. IPO Alert: These Four IPO's To Hit The Market

    Read more about: ipo bharat road network
    Story first published: Saturday, September 9, 2017, 15:01 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more