Bharat Road Network IPO to open on 6 September

IPO price band fixed at Rs 195-205 per share

The initial public offer (IPO) of Bharat Road Network (BRNL) for public issue of up to 2.93 crore shares is set to open on 6 September 2017. The price band for the IPO has been fixed at Rs 195-205 per share. The issue closes on 8 September 2017.

BRNL intends to use the proceeds from the issue towards advancing of subordinate debt to its subsidiary, acquisition of the subordinate debt and general corporate purposes.

Bharat Road Network (BRNL) is a road BOT company in India, focused on development, implementation, operation and maintenance of roads/highways projects. BRNL was incorporated in 2006 as a developer and operator for highways, road and related projects on a BOT basis.

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