The Centre will offload a 4.92 per cent stake in SJVN Ltd. The offer for sale in SJVN Open tomorrow for non-retail investors . Retail investors can bid on Friday.
In a post on micro-blogging site X, the Secretary DIPAM wrote: “Government will divest 4.92 per cent equity including a Green Shoe option of 2.46 per cent”.
The floor price for each fully paid-up equity share will be ₹69 per share, at a discount of 15.59 per cent over Wednesday’s closing price at the BSE. SJVN Ltd’s shares closed at ₹81.75 a piece.
The total offer size (including over-subscription) for 19,33,45,924 shares will be ₹1334 crore (at floor price). Of these, the base offer will account for ₹667 crore (that include 2.46 per cent equity and 966,72,962) while the remaining 2.46 per cent or another ₹667 crore will be Green Shoe option.