SJVNL fixes IPO price band at Rs 23-26 per share

State-owned Satluj Jal Vidyut Nigam (SJVNL) is believed to have finalised price band for its upcoming initial public offer at Rs 23-26 per share.

The company, whose initial public offer (IPO) would open on April 29 and closes on May 3, would come out with a public offering of 41.50 crore equity shares.

The price band for SJVNL IPO has been fixed at Rs 23-26 a share, sources said.

The company has also allowed a five per cent discount to employees and retail investors.
    
The issue would comprise an offering of 41.16 crore shares to public and the remaining 33.50 lakh would be reserved for employees.
    
SJVNL through the IPO would divest 10 per cent stake.
    
Currently, the Centre holds around 75 per cent stake in SJVNL and the remaining 25 per cent rests with the Himachal Pradesh government.