Government to sell 4.9% stake in SJVN via OFS. Details here | Mint
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Business News/ Companies / News/  Government to sell 4.9% stake in SJVN via OFS. Details here
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Government to sell 4.9% stake in SJVN via OFS. Details here

Offer for sale in SJVN opens tomorrow for non-retail investors. Retail investors can bid on Friday. Government will divest 4.92% equity including a Green Shoe option of 2.46%.

At the floor price of ₹69 a share, the sale of 4.92 per cent stake -- or over 9.66 crore shares -- will fetch over ₹650 crore.Premium
At the floor price of 69 a share, the sale of 4.92 per cent stake -- or over 9.66 crore shares -- will fetch over 650 crore.

Offer for sale in SJVN opens tomorrow for non-retail investors. Retail investors can bid on Friday. Government will divest 4.92% equity including a Green Shoe option of 2.46%. The government will sell 4.92 per cent stake in SJVN at a floor price of 69 per share through a two-day offer for sale, an official said.

"Offer for sale in SJVN opens tomorrow for non-retail investors. Retail investors can bid on Friday. Government will divest 4.92% equity including a Green Shoe option of 2.46%," DIPAM Secretary Tuhin Kanta Pandey posted on X.

At the floor price of 69 a share, the sale of 4.92 per cent stake -- or over 9.66 crore shares -- will fetch over 650 crore.

SJVN shares on Wednesday jumped 9.31 per cent to hit its 52-week high of 83.69. The stock later closed at 81.75 apiece on the BSE, up by 6.78 per cent.

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Published: 20 Sep 2023, 07:21 PM IST
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