Satluj Jal Vidyut Nigam OFS subscribed 2.4 times by non-retail investors on first day

NEW DELHI: State-owned SJVN’s offer for sale (OFS) received an overwhelming response as
it was oversubscribed on the first day. The OFS, which was open for non-retail investors on Thursday, witnessed a demand that was 240% higher than the shares available for sale. The issue received demand for 20 crore shares, in comparison to the 9.66 crore shares that were on offer.

SJVN (Satluj Jal Vidyut Nigam), a mini Ratna company has launched an Offer for Sale (OFS) to divest up to 4.9% of its outstanding shares to raise Rs 1,333 crore. The floor price for this offering has been set at Rs 69 per share, which is 16% less compared to its closing price as of September 20, 2023.