Parul
The government on Wednesday announced it plans to sell up to a 4.9 per cent stake in power major Satluj Jal Vidyut Nigam (SJVN) via Offer For Sale. The floor price has been fixed at Rs 69 per share which represents a 16 per cent discount from SJVN’s closing price of Rs 82.1 on Wednesday.
The government will sell up to a 2.46 per cent stake in the company as a base offer via OFS and has retained an oversubscription option for another 2.46 per cent.
The offer will open on September 21 for non-retail investors and on September 22 for retail investors. The base offer will comprise 9.66 crore shares with a face value of Rs 10 which may be followed up with an additional sale of 9.66 crore as part of a green shoe option.
