SJVN's share price gained 10% in the beginning of trading on Thursday on the the case of BSE as its offer for sale, or OFS, for non-retail buyers started. On Friday, customers can bid in the OFS.
The stock got started at 74.69 below its prior close of 81.75 and fell 10% to 73.53 on the BSE.
SJVN's trading price is up 173 % off a 52-week low of 29.90 on the BSE on the last day of September 2022.
The government is going to auction a 4.92 % investment in SJVN as of a for sale at a starting price of $69 per share.
On the starting price of 69 a share, the auction of a 4.92 percent curiosity – or greater than 9.66 crore share – will result in more than 650 crore.
According to an exchange organizing, the SJVN's boards of members will convene on Saturday, September 23, to talk about and accept collecting money by securing assets.
The financial support for short-term loans is formally offered at 70% of the total project cost but may be raised for renewable energy initiatives given their specifications.
SJVN's general net profit fell by over 55% to 271.75 crore during the June period of FY24.
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The company's overall revenue fell to 744.39 crore during the initial half of the present financial year form 1,072.23 crore a year earlier.