SREI Infrastructure Finance's Bharat Road Network (BRNL) has received Observation Letter from SEBI in regard to the Draft Red Herring Prospectus (DRHP) filed by BRNL.

The proposed IPO of BRNL can open for subscription within a period of 12 months from the date of issuance of the aforesaid Observation Letter.

Total volume of shares traded on the bourses today was lower by 65.05% to 1,148,350 compared with 22-day average volume of 3,285,888.

Shares of the company gained Rs 1.25, or 1.2%, to trade at Rs 105.75. The total volume of shares traded was 149,324 at the BSE (11.55 a.m., Thursday).