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Bharat Road Network IPO oversubscribed 1.33 times on last day

Bharat Road Network has fixed price band of Rs 195-205 per share for its IPO

Press Trust of India  |  New Delhi 

Illustration: Binay Sinha
Illustration: Binay Sinha

The initial public offer (IPO) of was oversubscribed 1.33 times so far on the last day of bidding today.

The of Bharat Road Network, a Srei Infrastructure Finance company, received bids for 3,90,83,908 against the total issue size of 2,93,00,000 shares, data available with the NSE till 1400 hrs showed.

Till yesterday, the offer was subscribed 70%.

has fixed price band of Rs 195-205 per share for its and aims to raise Rs 600 crore.

Net proceeds from the issue will be utilised towards advancing of subordinated 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 are managing the

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, September 08 2017. 15:05 IST