SJVN IPO opens; should you subscribe?

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SJVN IPO opens; should you subscribe?

The initial public offering of Hydropower generator Satluj Jal Vidyut Nigam (SJVN) opened for subscription.

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The initial public offering of Hydropower generator Satluj Jal Vidyut Nigam (SJVN) has opened for subscription. The government is offering 41.5 crore equity shares through SJVN issue. The issue will close on May 3, 2010. The price band is fixed at Rs 23-26 per share.

Experts as well as brokerage houses were positive on the public issue. Investment Advisor, SP Tulsian has recommended investors to subscribe to the issue. "Effective cost per share, to retail investor will be Rs.24.70 per share, at the upper band." Manish Bhatt of Prabhudas Lilladher has also advised subscribing to the issue.

Brokerages views

According to Aditya Birla Money's report, "By considering the factors such as : being one of the largest hydro power company trading at a relatively lower valuation compared to its peers, consistence financial performance & growing power demand, the issue price looks attractive. So, we recommend subscribe on the issue for long-term perspective."