Govt to sell up to 4.92% stake in utility company SJVN from Thursday
The Indian government will sell an up to a 4.92% stake in utility company SJVN Ltd this week, a stock exchange filing showed on Wednesday.
It said plans to sell the 4.92% stake included selling 2.46% if the sale is oversubscribed.
The floor price for the sale has been set at 69 rupees, a roughly 15.6% discount to the stock’s closing price on Wednesday. The federal government owns 59.92% equity in the state-run hydropower generation company, and the northern state of Himachal Pradesh owns 26.85%.
The sale of the federal government’s 4.92% in the state-run hydro power generation firm could earn it about 13.34 billion rupees ($160.81 million).
