The SJVN Board will discuss and approve the proposed fund-raising during its meeting today. The business has disclosed the agenda for the board meeting to Indian stock market exchanges. The state-owned firm that generates and transmits hydroelectric electricity told Indian stock exchanges that its board will address the proposed money raising through asset securitization in its meeting on Saturday.
Fundraising news for SJVN
According to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that a Meeting of the Board of Directors is scheduled to be held on Saturday, September 23, 2023, among other things to consider and approve the raising of funds through the securitization of assets.
The President of India, acting through and represented by the Ministry of Power, Government of India, has now submitted to BSE a copy of Revised Notice of Offer for Sale of Equity Shares of Face Value of Rs. 10 Each (“Equity Shares”), SJVN informed Indian exchanges about its offer for sale (OFS) plan by promoter citing, “With reference to earlier announcement dated September 20, 2023 regarding “Notice of Offer for Sale of Shares by Promoter & Floor Price.”
History of SJVN share prices
Similar to other PSU equities, SJVN shares have given positional investors a hefty return. One of the multibagger stocks produced by the Indian stock market in 2023 is this one. This PSU stock has increased from about 35 to 73 per piece so far this year, giving long-term investors a return of almost 11%. This state-owned stock has gained about 125 percent in the past year, rising from values at 32.30 to 73 per share. Shares of SJVN are among the equities that had a significant rebound following the Covid-19 sell-off. SJVN’s share price has increased by almost 250 percent over the past three and a half years, rising from about 20.50 to 73 per piece.
