Satluj Jal Vidyut Nigam IPO to hit markets on April 29, 2010

The Initial Public Offering of Satluj Jal Vidyut Nigam Ltd will hit capital markets for subscription on April 29, 2010.

The company is coming out with an issue of 41,50,00,000 Equity Shares of Rs.10/- Each for cash at a price band of Rs.23 - Rs.26 through 100% book building process.

The minimum bid size is 250 equity shares and in multiples of 250 equity shares. The Maximum Subscription Amount for Retail Investor is Rs. 1,00,000.

CARE has assigned an IPO Grade 4 to Satluj Jal Vidyut Nigam Ltd (SJVNL) IPO . This means as per CARE, company has 'Above Average Fundamentals'.

The issue also offers 5% Discount of the Issue Price to the Retail Investors (On Allotment). The IPO closes for subscription on Monday - May 03, 2010.

Satluj Jal Vidyut Nigam Ltd (formerly Nathpa Jhakri Power Corporation Limited - NJPC) is a hydroelectric power generation company, originally established as a joint venture of the Government of India ( GOI ) and the Government of Himachal Pradesh (GOHP) to plan, investigate, organize, execute, operate and maintain Hydro-electric power projects.

Link Intime India Private Limited is the Registrar to the company.

JM Financial Consultants Private Limited, IDFC Capital Limited, IDBI Capital Market Services Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the IPO. JM Financial Services Private Limited, Sharekhan Limited, SBICAP Securities Limited and IDBI Capital Market Services Limited are the syndicate members to the issue.

Source : Equity Bulls

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