logo-lakshmshree
Posted on  September 21, 2023 under  by Team Lakshmishree

Government's Stake Sale in SJVN: Key Details of the Upcoming OFS

The Government of India has declared its intention to divest a portion of its stake in SJVN through an Offer For Sale (OFS). This move is anticipated to generate significant interest among both retail and non-retail investors. Here are the crucial details you need to know:

OFS Opens for Non-Retail Investors

The OFS window for non-retail investors is set to commence on 21st September 2023. This will be followed by opening the window for retail investors on 22nd September 2023.

Stake Divestment Details - SJVN

The Government aims to divest 4.92% of its equity in SJVN. This includes a Green Shoe option of 2.46%. The floor price for the shares has been set at ₹69 per share, which is notably lower than the current market price, making it an attractive proposition for potential investors.

Financial Implications

Given the floor price of ₹69 per share, the sale of the 4.92% stake, which translates to over 9.66 crore shares, is expected to bring in revenues exceeding ₹650 crore for the Government. It's worth noting that SJVN shares recently surged by 9.31%, reaching a 52-week high of ₹83.69. The shares eventually settled at ₹81.75 on the BSE, marking a 6.78% increase.

Offer Size and Oversubscription Details

  • Base Offer Size: The government intends to sell 9,66,72,962 shares, which equates to 2.46% of SJVN's total equity.
  • Oversubscription Option: An additional 9,66,72,962 shares (2.46% of Equity) are available for oversubscription.
  • Total Offer Size with Oversubscription: Should there be a full oversubscription, the total number of shares on offer would be 19,33,45,924. This translates to a substantial Rs 1334 crore at the floor price.

Open an Account with Lakshmishree: Your Gateway to Smart Investments

Ready to capitalize on opportunities like the SJVN OFS? It starts with having the right partner by your side. At Lakshmishree, we offer a seamless account opening process, expert financial guidance, and a platform designed for the modern investor.

Whether you're a seasoned trader or just starting your investment journey, Lakshmishree provides the tools and insights you need to make informed decisions. Don't miss out on the next big opportunity.

Open Your Account Today and embark on a successful investment journey with Lakshmishree.

Conclusion

The Government's decision to divest its stake in SJVN through an OFS presents a golden opportunity for investors. With an attractive floor price and the potential for significant returns, this OFS is poised to be a major event in the financial sector. Investors are advised to watch this development closely and make informed decisions.

Written by Team Lakshmishree

open-account-ad-2

Social Share

Subscribe to Our Newsletter

Loading
CIN No U74110MH2005PLC157942     |    Member Ship Details     |    BSE-3281     |    NSE-12817     |    MCX-55910     |    DP:IN-DP-CDSL-490-2008     |    DPID:12059100    |    SEBI Regn. No.: INZ000170330     |    Mutual Fund: ARN-77739    |    Research Analyst: registration number INH000014395
logo-lakshmshree-white
Lakshmishree Investment & Securities Ltd. was incorporated in 2005. We are a Corporate Member of NSE, BSE, MCX and Depository Participant with CDSL.
Most Popular in LISL
Copyright @ 2024 © Lakshmishree Investment & Securities Ltd. All Right Reserved.
Investing in Solar: What Every Indian Investor Should Know Adani Bribery Allegations Trigger Market Crash: Nifty, Sensex Plunge A Guide to Infrastructure Mutual Funds 5 Reasons to Add Silver ETFs to Your Portfolio NTPC Green Energy IPO: Everything You Need to Know Beginner's Guide to Silver ETF 10 Key Things to Know About Zinka Logistics (BlackBuck) IPO 10 Things to Know About Swiggy’s IPO