The government’s 4.92 per cent share-sale offer in state-owned power producer SJVN kicked off on Thursday with institutional investors putting in bids.
In the 2-day offer for sale (OFS), the government is selling up to 19.33 crore shares or 4.92 per cent stake at a floor price of Rs 69/piece.
The floor price of the SJVN share sale was fixed at a discount of 15.6 per cent over Wednesday’s closing share price of Rs 81.75 on the BSE.
At this floor price, the OFS of 4.92 per cent stake would fetch over Rs 1,300 crore to the exchequer.
Shares of SJVN fell 9.38 per cent over previous close to Rs 74.08 apiece in morning trade on the BSE.
