Business Standard

BRNL's IPO not yet the road to travel

With young assets, the firm could take some time before its starts reporting profit at the net level

infographic
Premium

Ujjval Jauhari New Delhi
Bharat Road Network Ltd (BRNL), a 30.4 per cent subsidiary of SREI Infrastructure Finance, is a build-operate-transfer (BOT) player in the roads segment. The portfolio of assets is large, with five operating and one under-construction project, totalling 1,622 km across Uttar Pradesh, Kerala, Haryana, Madhya Pradesh, Maharashtra and Odisha.

However, the initial public offering (IPO) is unattractive, due to weak financial performance in the past and the valuations.

The company, gearing up to grow its business, plans to utilise Rs 372 crore of the IPO proceeds of about Rs 600 crore for acquisition of subordinated debt held by SREI (related

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in