Satluj Jal Vidyut Nigam IPO : Opening on 29th April 2010

by khalid on 25/04/2010 · 2 comments

Satluj Jal Vidyut Nigam Ltd (SJVNL) is the government company (PSU) that runs a 1500 MW hydropower project in Himachal Pradesh, the largest single location in the country. The company is entering into primary market with an Initial Public Offer (IPO) of 410881400 equity shares of Rs 10 each. The present authorized share capital of SJVNL is Rs 7000 crores. The IPO is opening on 29th April 2010 and the shares will be available for subscription up to 03rd May 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has not yet been fixed by the company. It will be provided here in bellthebull as soon as it is available.

The proceeds of the IPO will be used to achieve the benefits of listing on the Stock Exchanges and to carry out the transfer of 410881400 Equity Shares by the Selling Shareholder. Listing of the Equity Shares will create liquidity in the Equity Shares through the creation of a public market for the Equity Shares in India.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Issue Detail:-
Issue Open : 29th April 2010 – 03rd May 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 410881400 Equity Shares of Rs 10 each
Issue Size : Rs. 954.50 – 1079.00 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 23 – Rs. 26 Per Equity Share
Market Lot : 250 Shares
Minimum Order Quantity : 250 Shares
Listing At : BSE, NSE

Book running lead managers to the issue are IDBI Capital Market Services Limited, IDFC-SSKI Private Limited, JM Financial Consultants Private Limited and SBI Capital Markets Limited.

Registrar of the Issue is Link Intime India Private Ltd Mumbai.

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{ 2 comments… read them below or add one }

Abhishek April 28, 2010

Seems a good stock at a decent price compared to earlier high priced government IPOs especially NHPC.Government is apparently pricing this at a discount to leave something for the investors.Also valuation seems low compared to the Indian power sector

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khalid April 29, 2010

Government realized the mood of retail investor and therefore they fixed the price band at a reasonable level. Though Institutional investors were ready to pay more premium.

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