SJVN slips 10% as government begins partial stake sale via OFS
Shares of SJVN slipped 10 per cent to Rs 73.53 on the BSE in Thursday’s intra-day trade as the government began offloading its partial stake, using the offer for sale (OFS) mechanism, starting today.
The government will sell 96.67 million shares, or 2.46 per cent stake, in the company with an option to sell additional 2.46 per cent stake under offer for sale (OFS) route. At the floor price of Rs 69 a share, the sale of the entire 4.92 per cent stake will fetch over Rs 650 crore. The offer will open for non-retail investors today, and retail investors on Friday (Sept 22).
