The state run hydro-electric power generation company, Satluj Jal Vidyut Nigam, started to offer IPO from April 29, 2010. It will close on May 3, 2010. The company is offering 41.50 crore equity shares. Out of these, 41.16 crore shares will be offered to public and 33.50 lakh would be reserved for its employees. The price band for the IPO would range from Rs.23 to Rs.26 per share. Employees and retail investors would get 5% discount. With this IPO, SJVNL would divest 10% of its stake. Currently, the Indian government holds 75% stake in the company and the remaining 25% is held by the Himachal Pradesh Government.
Satluj Jal Vidyut Nigam Ltd., formerly known as Nathpa Jhakri Power Corporation Limited (NJPC), was incorporated on May 24, 1988 as a joint venture between the government of Indian and the government of Himachal Pradesh. Currently, the company has a share capital worth rs.7000 crores. The Nathpa Jhakri Hydro – Electric Power Station (NJHPS) had the capacity to produce 1500 MW of electricity and was the first project undertaken by SJVN. Money for the NJPC project was collected from the World Bank, a Consortium of European Banks and the Power Finance Corporation and various domestic commercial banks. The NJHEP project generates 6612 MU of electricity. It has the largest and longest headrace tunnel, largest de-silting chambers, deepest and largest surge shaft, and the largest underground power complex. Since its commission in October 2003, the project added 1,500 MW of power to the Indian Northern Grid.
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