Saturday, April 26, 2025

Govt to sell 4.9% stake in SJVN, share price fixed at Rs 69

Date:

Share post:

New Delhi, Sep 20:  The government on Wednesday announced that it plans to sell up to 4.9 per cent stake in power major 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 2.46 per cent stake in the company as 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.

“Offer for sale in SJVN opens tomorrow for non-retail investors. Retail investors can bid on Friday. Government will divest 4.92 per cent equity including a Green Shoe option of 2.46 per cent,” Secretary, Department of Investment and Public Asset Management posted on X (formerly Twitter).

IANS

Related articles

Over two lakh people, top world leaders attend funeral ceremony of Pope Francis at Vatican

Vatican City, April 26: The funeral mass ceremony of Pope Francis, that began Saturday afternoon, India time, in...

Pak Army Chief escalates anti-India rant, rakes up two-nation theory again

Islamabad/New Delhi April 26: Pakistan's Chief of Army Staff (COAS) General Syed Asim Munir on Saturday once again...

BJP extends support to Candle Light Gathering on April 27

Shillong, April 26: BJP Meghalaya, which was amongst the first in the state to organise a protest against...

CARS24 lays off nearly 200 employees in restructuring exercise

New Delhi, April 26: Autotech platform CARS24 has laid off nearly 200 employees across various functions, as part...