ALSO READDixon Tech, Bharat Road Network to launch IPOs this week, eye Rs 1,200 cr Bharat Road Network IPO oversubscribed 1.33 times on last day Bharat Road Network IPO oversubscribed 1.80 times on last day Bharat Road Network gains 1% vs issue price after listing flat at Rs 450 Srei-promoted Bharat Roads look to raise Rs 1,200 cr via IPO in July
Shares of Bharat Road Network ended nearly 2 per cent higher in its debut trading session today against the issue price of Rs 205. In a sluggish debut, the stock listed at Rs 204.90, down 0.04 per cent from the issue price on BSE. It, however, managed to end the day 1.53 per cent higher at Rs 208.15.
In intra-day, it touched a high of Rs 218.65 and a low of Rs 196.50. At NSE, shares of the company gained 1.68 per cent to end at Rs 208.45. The company's market valuation stands at Rs 1,747.42 crore. In terms of equity volume, 51.05 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day. The IPO of Bharat Road Network, a Srei Infrastructure Finance company, was oversubscribed 1.81 times during September 6-8. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 1.33 times, non-institutional investors 1.63 times and retail individual investors 5.69 times. Bharat Road Network's over Rs 600 crore IPO had a price band of Rs 195-205 per share. Inga Capital, Investec Capital Services and Srei Capital Markets managed the company's IPO.
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