Govt to sell 4.92% in SJVN at Rs 69/share; OFS begins on Thursday

SJVN shares on Wednesday jumped 9.31 per cent to hit its 52-week high of Rs 83.69.

PTI

SJVN, shares / September 20, 2023 / 20:42 IST

The stock later closed at Rs 81.75 apiece on the BSE, up by 6.78%.

The government will sell a 4.92% stake in SJVN at a floor price of Rs 69 per share through a two-day offer for sale, an official said.

'Offer for sale in SJVN opens tomorrow for non-retail investors. Retail investors can bid on Friday. The government will divest 4.92% equity including a Green Shoe option of 2.46%," DIPAM Secretary Tuhin Kanta Pandey posted on X. At the floor price of Rs 69 a share, the sale of 4.92 per cent stake — or over 9.66 crore shares — will fetch over Rs 650 crore.

SJVN shares on Wednesday jumped 9.31 per cent to hit its 52-week high of Rs 83.69. The stock later closed at Rs 81.75 apiece on the BSE, up by 6.78%.

PTI

first published: Sep 20, 2023 08:42 pm

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