SJVN initiates offer for sale

SJVN , a government-owned power producer, has launched an offer for sale (OFS) to divest up to 4.9 per cent of its outstanding shares, with the aim of raising approximately Rs 1,333 crore. This OFS is being conducted on behalf of the Government of India, and consequently, the company will not directly benefit from the proceeds. About the offer for sale The floor price for this offering has been set at Rs 69 per share, which is 16 per cent less compared to its closing price as of September 20, 2023. Consequently, the share price has experienced a decline of approximately 12 per cent thus far. The OFS will take place over a two-day period from September 21 to 22, where retail investors will be allowed to participate on the second day. About SJVN Originally established as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN, a Mini Ratna, has now evolved into one of the leading power producers, boasting a total capacity of 2,091 MW. Of this capacity, 91 pe