Himachal Based Power Company, SJVNL To Come Out With IPO

Shimla: With the Manmohan Singh government chartering new territory after constraints that came attached with support from the Left front parties removed, the union government is moving to come out with Initial Public Offers (IPO) for hydro companies, which includes Satluj Jal Vidyut Nigam (SJVNL) that owns the 1500 MW Natpha Jhakri project.

The financial daily Live Mint, quotes

H.K. Sharma, chairman and managing director, SJVNL “The government of India has decided that we should come out with an IPO.”

The online report further quotes a power ministry official “It is for their boards to decide the timing and the size of the issue. Satluj Jal Vidyut Nigam Ltd will be the first off the block.”

SJVNL, which operates the country’s largest hydropower project is currently executing the 440 MW Rampur project.

SJVNL is a joint venture company between the Himachal Pradesh government and the central government, where in the equity holding in Nathpa Jhakri project is 25:75 and in Rampur project it is 30:70.

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