SJVN may list around Rs 28-28.5 on listing: Tulsian
Investment Advisor, SP Tulsian is of the view that SJVN may list around Rs 28-28.5 per share as against its issue price fixed at Rs 26 per share. The effective cost per share, to retail investor was Rs.24.70 per share, at the upper band after 5% discount.
The offer comprises a net offer to the public of 411,650,000 equity shares and a reservation of 3,350,000 equity shares for purchase by eligible employees at the offer price. The offer shall constitute 10.03% of the paid-up equity capital of company..
The shareholding stake of President of India, acting through the Ministry of Power, Government of India will be reduced to 64.47% from 74.50% post issue. The Governor, State of Himachal Pradesh holds 25.50% stake in the company.
The purpose of the offer is to achieve the benefits of listing and the company will not receive any proceeds from the offer.
It is a hydroelectric power generation company originally established as a joint venture between the Government and the state government of Himachal Pradesh to develop and operate the NJHPS. Based on information published by the CEA, the NJHPS is currently the largest operational hydroelectric power generation facility in India based on installed capacity, with an aggregate generation capacity of 1,500 MW, and is located on the Sutlej River in the state of Himachal Pradesh.
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Category: IPO
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