Satluj Jal Vidyut Nigam (SJVN) IPO closes today

The IPO of Satluj Jal Vidyut Nigam (SJVN) Ltd., the state-run hydroelectric power generation company, closes for subscription today. The IPO, which had opened from Thursday, April 29, 2010, has been subscribed 0.86 times till second day of opening, i.e. till Friday, April 30, 2010. The Retail Category has received bids for 18877500 Equity Shares as against 123495000 Equity Shares reserved for the category, thus making the it subscribed 0.1529 times or 15.29% till Day 2

Satluj Jal Vidyut Nigam Ltd. (formerly NJPC Ltd.) was incorporated on May 24, 1988 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

The price band for the Satluj Jal Vidyut Nigam IPO is Rs.23/- to Rs.26/- per equity share with a 5% Discount on the Issue Price for Retail Investors at the time of allotment.

Satluj Jal Vidyut Nigam IPO has been assigned an IPO Grade 4/5 by the credit rating agency CARE. (Click here for more on Satluj Jal Vidyut Nigam IPO Rating)

Check back Indian IPO Blog frequently for SJVN IPO Subscription Status updates throughout the day as well as Final Subscription Statistics of the IPO!