Roads and Highways firm Bharat Road Network is set to launch its initial public offering IPO on 6 September. The company is selling up to 29.3 million shares in a fresh issue, and the IPO will dilute a 34.9% stake. BRNL has SREI Infrastructure Finance as its promoter. It has priced it shares for the IPO in the Rs. 195-205 price band. 

Bharat Road Network develops, operates and maintains national and state highways in the states of Uttar Pradesh, Kerala, Haryana, Madhya Pradesh, Maharashtra and Odisha. Based on the red herring prospectus, the company says it has a portfolio of six build, own and transfer (BOT) road projects. Five of these projects are ongoing, while one is under development.

Bharat Road Network follows in the footsteps of other road developers including Sadbhav Infrastructure, and Dilip Buildcon. While Sadbhav is struggling with weak results in its most recent quarter, Dilip Buildcon saw a healthy financial performance. Analysts expect the segment to benefit overall from the central government's focus on road spending and expansion.