SJVN Limited which had launched its offer for sale issue between the 29th of April and 3rd of May is to list on Thursday the 20th of May at the NSE and BSE respectively. The company had launched its issue to sell 41.5 cr shares in a price band of Rs 23-26. The issue carried a discount of 5% for retail investors and was very well received. The issue received excellent response with an overall oversubscription of 6.64 times. The QIB portion was subscribed 9 times and the HNI portion about 3.38 times. The retail portion was subscribed 3.11 times clearly demonstrating the fact that a reasonable price will always bring retail participation.

The issue was priced at Rs 26 which means that retail investors will be allotted shares at Rs 24.70 per share. Retail investors who have applied for the maximum 3750 shares have been allotted 1268 shares. There will be listing gains in this share and investors would be well rewarded. SJVN Limited is an existing dividend paying company and the high payout ratios would continue going forward as well.