EkCrore.net :: Satluj Jal Vidyut Nigam (SJVNL) IPO

April 13, 2010
The price is expected to be around Rs. 30. The company is planning to file red herring on Wednesday. The company will import power to India from Nepal power plant. Its 900 MW Nepal power plant will be commissioned in 2016.

April 10, 2010
The initial public offering (IPO) of hydropower major Satluj Jal Vidyut Nigam (SJVNL), tentatively hit the market April 29, 2010. This is even before the Securities and Exchange Board of (SEBI's) new list of India rules kick in.

The company, sources said it will submit the draft red herring prospectus (DRHP) for the same week, next.

The government aims to raise Rs 1200 crore from divesting 10% stake in SJVNL. In addition, the Cabinet Committee on Economic Affairs (CCEA) has given its nod to increase government involvement in the company HP to 25.50% from 25%. It has also increased its offer for sale of 41.09 to 41.50 rupees crore shares.