As per our soruces, State-owned Satluj Jal Vidyut Nigam (SJVNL) has finalised price band for its upcoming initial public offer at Rs 23-26 per share.
The issue of SJVNL would start on 29th April 2010 and would close on 3rd May 2010.
The company is offering 41.50 crore equity shares through this public issue. The issue would comprise an offering of 41.16 crore shares to public and the remaining 33.50 lakh would be reserved for employees.
The company will also allow a five per cent discount to employees and retail investors.
Through the IPO SJVNL would divest 10 per cent stake. Currently, the Centre holds around 75 per cent stake in SJVNL and the remaining 25 per cent rests with the Himachal Pradesh government.
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