Through the OFS, the Government of India (the 'promoter') proposes to sell up to 9,66,72,962 equity shares (representing 2.46% stake), with an option to sell an additional 2.46% stake or 9,66,72,961 equity shares in case of oversubscription.

The floor price for the sale has been set at Rs 69, a 15.60% discount to the stock's closing price of Rs 81.75 on Wednesday, 20 September 2023.

The total OFS size (base size + green shoe) stands at 19,33,45,923 shares, representing 4.92% of outstanding equity shares of the company, the value of which (at floor price) aggregates to Rs 1,334.08 crore.

The Government of India held 59.92% stake in SJVN as of 30 June 2023.

The OFS opened on Thursday (21 September 2023) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Friday (22 September 2023).

As of 11:25 IST, the OFS received subscription for 1,44,92,752 shares. It was subscribed 16.66% on the base non-retail offer size of 8,70,05,665 shares and 8.33% on the total non-retail offer size (base size + green shoe) of 17,40,11,330 shares.

SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind and in power transmission & power trading. It is a joint venture between the Government of India and the Government of Himachal Pradesh.

The company's consolidated net profit declined 55.39% to Rs 271.75 crore on a 32.80% fall in revenue to Rs 674.79 crore in Q1 FY24 over Q1 FY23.