Issue Open : 6Sep 2017 to 8Sep 2017
Issue Type: Book Built Issue IPO
Issue Size: 29,300,000Equity Shares aggregating up to `600.65 Cr
Face Value: Rs10 Per Equity Share
Issue Price: Rs195–Rs205Per Equity Share
Market Lot: 73Shares
Minimum Order Quantity: 73Shares
Listing At: NSE, BSE
Valuation: We see an inconsistent Growth in the Revenues 8 profitability( majorly losses) for Bharat Road Network followed by negative net cash flows in the past which seems to continue in future as well, would unable the company to meet required payments on debt and face working capital crunches going ahead.
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Taking into consideration the above stated points as well as on the peer comparison front too, the issue seems to be overpriced. Therefore we suggest to AVOID this IPO.
About Rudra Shares and Stock Brokers
RUDRA is one of the growing & dynamic brokerage houses with a strong presence in the Retail and HNI broking segment. With over 25 years of experience and lead by a team with outstanding managerial acumen, RUDRA is a professionally managed company supported by over 100 professionals, including Chartered Accountants, MBAs and other senior executives. RUDRA can thereby cater to its clients' short-term as well as long-term financial needs through a comprehensive bouquet of investment services. RUDRA offers a diverse range of financial services, including institutional and retail brokerage of Equity, Currency, Commodities, Derivatives, Online Trading, Depository Services, Fixed Deposits, IPOs and Mutual Funds Distribution, and Wealth Advisory & Research. RUDRA is looking to become one of the biggest broking houses. RUDRA Securities Limited, is a member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited, MCX Stock Exchange, and Depository Participant of Central Depository Services (I) Limited. RUDRA can be approached online at www.rudrashares.com.
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