Himachal Pradesh’s Share in SJVN Marginally Increased
Delhi: The Cabinet Committee on Economic Affairs today approved the enhancement of the equity stake of the Government of Himachal Pradesh in Satluj Jal Vidyut Nigam Limited (SJVN Limited) from 25% to 25.50% (Approx.) by issue of 2,78,12,500 shares at book value of Rs.14.72 per share as on 31st March, 2009 for a value of Rs. 40.94 crore. It also decided to increase the offer for disinvestment in SJVNL from 41.09 crore shares of Rs.410.88 crore value to 41.50 crore shares of Rs.415.00 crore value. The approval has been taken to ensure successful disinvestment of GOI’s stake in SJVN Limited.
The CCEA, in its meeting held in October, 2009, had approved the disinvestment of 10% paid up equity in SJVNL out of GOI’s shareholding of 75%.
SJVN Limited (SJVNL), a Mini-Ratna, Schedule-A Company is a joint venture between the Government of India (GOI) and the Government of Himachal Pradesh (GOHP). It was incorporated in May, 1988 to plan, promote, investigate, organize, execute, operate and maintain hydro electric power projects in the river Satluj basin in the State of Himachal Pradesh in general and to execute 1500 MW Nathpa Jhakri Hydroelectric Project (NJHEP) in particular. Subsequently, its areas of operation has been extended beyond the river Satluj basin to other states/countries like Manipur, Nepal, Bhutan, etc.
Press Bureau of India Release