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

The government will sell 4.92 per cent 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 sell 4.92 per cent 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. 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 per cent.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)