Srei-promoted Bharat Roads look to raise Rs 1,200 cr via IPO in July

The public issue consists of up to 29,300,000 equity shares of face value of Rs 10 each

Srei Infrastructure Finance-promoted Bharat Road Network (BRNL) is looking to raise Rs 1,200 via an initial public offering (IPO) in mid-July. “We got approval in May and by mid-July we should be able to bring the IPO,” Bajrang Kumar Choudhary, managing director, BRNL, told Business Standard.

The public issue consists of up to 29.3 million equity shares of face value of Rs 10 each. According to market sources, the issue size is estimated at Rs 1,200 crore.

Inga Capital Private, Investec Capital Services (India) Private and Srei Capital Markets are the book-running lead managers to the issue.

“The proceeds from the IPO would