Mumbai, April 28: The Initial Public offer (IPO) of state-run Satluj Jal Vidyut Nigam Limited (SJVNL) will open on April 29.
The SJVNL IPO, a joint venture of Centre and Himachal Pradesh government, will close on May 3, 2010.
The government has been aiming to raise Rs 1,000 crore through the SJVNL IPO.
The price band of SJVNL IPO is fixed at Rs 23-26.
With the SJVNL IPO government will also start its disinvestments exercise for the fiscal 2010-11.
Through the SJVNL IPO government has been investing 10 per cent of its 74.5 per cent stake in the public limited company.
In The IPO, the Central government will hold 74.5 percent stake while remaining 25.5 percent will be with state government.
A total 41.5 crore shares of SJVNL will be offered to public through this IPO.
An estimated fund of Rs 954-1079 crore will be raised through this IPO.
Government has announced to give five percent per share discount to retail investors and SJVN employees as well.
—Agencies