SJVN Limited which had tapped the capital markets with an IPO for 41.5 cr shares in a price band of Rs 23-26 has finalised the issue price at Rs 26. The issue was an offer for sale and had a 5% discount for retail investors. The issue had opened on Thursday the 29th of April and closed on Monday the 3rd of May. The issue had received excellent response and was oversubscribed 6.64 times. The noteworthy feature of this issue was that the retail portion was subscribed 3.11 times and this is the first divestment offer after NHPC which has received such overwhelming response from retail investors.

The pricing of the issue was the crux and hence such response from retail. Let us hope that proper pricing continues in the future issues as well as the current year have a divestment target of Rs 40,000 crs.