Government to divest 5% in SJVN, eyes rs1,334cr

The government is selling nearly 5% stake in power producer SJVN through the offer for sale (OFS) route on Thursday and Friday, which could fetch it about Rs 1,334 crore. The OFS is aggressively priced at Rs 69 per share, a 15.6% discount to the stock’s Wednesday close of Rs 82, the company disclosed to the exchanges on Wednesday.

The base size of the offer is nearly 9.7 crore shares or almost 2.5% of the company. There is a green-shoe option for the exact number of shares.