28/08/2017
BHARAT ROAD NETWORK ISSUE OPEN 6 SEPTEMBER
Incorporated in 2006, Bharat Road Network Limited, a subsidiary of SREI Infrastructure Finance Ltd is engaged in the business of development, implementation, operation, and maintenance of roads/highways projects.
Bharat Road involved in the development, operation and maintenance of national and state highways in several states in India with projects in states of Uttar Pradesh, Kerala, Haryana, Madhya Pradesh, Maharashtra and Odisha through partnerships with experienced EPC players in the local space where the project is located.
Company offers a range of project management services, including design, engineering, and quality control, as well as engineering, processing, and construction management; and project advisory services, such as project management consultancy, project conceptualization, commissioning, and operation and management of the projects, as well as undertakes debt syndication, refinancing, and financial restructuring of its projects.
Their project portfolio consisting of six (6) BOT Projects, of which two (2) are Projects operational under Final COD, three (3) are Projects operational under Provisional COD and one (1) is a Project under Construction.
Company Promoters:
The Promoters of the company are:
1. Srei Infrastructure Finance Limited ("SREI")
2. Make in India Fund
Company Financials:
Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 12,323.91 8,368.03 6,289.65 5,159.45 3,277.50
Total Revenue 149.28 42.52 414.88 96.40 30.59
Profit After Tax (738.85) (925.44) (264.22) (607.61) (168.77)
Objects of the Issue:
The object of the issue are:
1. Advancing of subordinate debt in form of interest free unsecured loan to their Subsidiary, STPL, for part financing of the STPL Project ("STPL Sponsor Investment");
2. Acquisition of the subordinated debt in the form of unsecured loan s/OCPIDs/warrants/OCDs, advanced/held by SREI to STPL, KEPL and MTPL ("Identified SPVs");
3. Benefits of listing of its Equity Shares on the Stock Exchanges; and
4. General corporate purposes.
Issue Detail:
»» Issue Open: Sep 6, 2017 - Sep 8, 2017
»» Issue Type: Book Built Issue IPO
»» Issue Size: 29,300,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
»» Face Value: Rs 10 Per Equity Share
»» Issue Price: Rs - Rs Per Equity Share
»» Market Lot:
»» Minimum Order Quantity:
»» Listing At: BSE, NSE
Tentative timetable in respect of the Offer:
Bid/Offer Opens On: September 06, 2017
Bid/Offer Closes On: September 08, 2017
Finalisation of Basis of Allotment: On or about September 13, 2017
Initiation of refunds: On or about September 14, 2017
Credit of Equity Shares to demat accounts: On or about September 14, 2017
Commencement of trading of the Equity Shares on the Stock Exchanges: On or about September 18, 2017
