Maruti Suzuki Q2 FY2025 Results: A Challenging Quarter
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:
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.
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.
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.
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.