SJVNL fixes IPO price band at Rs23-26 apiece

SJVNL fixes IPO price band at Rs23-26 apiece
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First Published: Mon, Apr 26 2010. 10 59 PM IST
Updated: Mon, Apr 26 2010. 10 59 PM IST
Mumbai: The initial public offering (IPO) of state-run hydro power generator Satluj Jal Vidyut Nigam Ltd (SJVNL) will open on 29 April in the price band of Rs23-26, according to investment bankers marketing the issue.
The government is looking to raise up to Rs1,070 crore at the upper end of the price band through the sale of around 410 million shares. At the lower end of the price band, the government will raise around Rs950 crore.
Retail investors will get shares at a discount of 5% on the cut-off price arrived at after book-building.
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First Published: Mon, Apr 26 2010. 10 59 PM IST