Government To Sell 4.92% In SJVN At Rs 69/Share; OFS Begins On Thursday

The government will sell 4.92% 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% stake -- or over 9.66 crore shares -- will fetch over Rs 650 crore.

SJVN shares on Wednesday jumped 9.31% 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%.