You are here: Home » PTI Stories » National » News
Business Standard

Bharat Road Networks files IPO papers with Sebi

Press Trust of India  |  New Delhi 

Road Network Ltd, a Srei initiative, today said it has filed draft papers with capital markets regulator to float a public issue.

The initial public offer (IPO) consists of up to 29.30 lakh equity of face value of Rs 10 each, the Kolkata- based company said in a statement.

The equity will have a face value of Rs 10 and the final price band will be decided in consultation with the book running lead managers.

The company is a road Build-operate-transfer company in India, focused on development, implementation, operation and maintenance of roads, projects.

Net proceeds from the issue will be utilised towards advancing of subordinate debt in form of 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 will manage the IPO.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 17 2017. 18:58 IST