Bharat Road Networks Limited or “BRNL” had tapped the markets with its IPO for 2.93 cr shares was subscribed. The issue had opened on Wednesday the 6th of September and closed on Friday the 8th of September. The price band was Rs 195-205. At the top end of the band the company would raise Rs 600.65 crs.
The issue was subscribed an overall 1.81 times with QIB portion subscribed 1.33 times, HNI 1.63 times and retail 5.69 times. The company is a road developer and has currently six BOT projects with five collecting toll and the sixth under construction spread across the country.
The detailed subscription is given below: –