Satluj Jal Vidyut Nigam IPO subscribed 6.5 times
SJVNL, which is planning to raise about Rs12bn via the IPO, has fixed a price band of Rs23-26 per share.
The IPO of Satluj Jal Vidyut Nigam Ltd. (SJVNL) was subscribed 6.48 times as of 5:00 pm today, the last day for subscription, according to the NSE web site. The public sector hydro-power utility received 2.69bn shares as against the issue size of 415mn shares on offer.
SJVNL, which is planning to raise about Rs12bn via the IPO, has fixed a price band of Rs23-26 per share.
The company is currently constructing the Rampur project, which is expected to be a 412 MW hydroelectric power generation facility located downstream from the NJHPS. The Rampur project is currently and commissioned in 2013.
SJVNL has also entered into memoranda of understanding (MoU) with the state government of Uttarkhand for three hydroelectric projects with an expected aggregate generation capacity of 363MW.
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