OFS New Delhi: The government is set to divest a 4.92% stake in SJVN through a two-day offer for sale, with a floor price of Rs 69 per share.
According to DIPAM Secretary Tuhin Kanta Pandey, the offer for sale begins for non-retail investors tomorrow, while retail investors can participate on Friday.
SJVN, formerly known as Satluj Jal Vidyut Nigam, is a public sector undertaking involved in hydroelectric power generation and transmission.
It was incorporated in 1988 as Nathpa Jhakri Power Corporation, a joint venture between the Government of India and the Government of Himachal Pradesh.
This divestment, including a Green Shoe option of 2.46%, is expected to yield over Rs 650 crore based on the floor price.
SJVN shares experienced a significant surge, reaching a 52-week high of Rs 83.69, and closed at Rs 81.75 apiece on the BSE, marking a 6.78% increase.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
