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Satlaj Jal Vidut Nigam + 5% Discount to Retail Investors

October 21, 2009

The Government of India is selling its peoples wealth – PSU companies to Foreign Investors [upto 60% of the IPO] without even first offering the Pie to Indians on whose wealth these companies have been built. After critics and objections from us, the Government has now come out with a proposition to offer shares of all PSUs taking the IPO route at 5% discount to retail Individual investors. The idea is to get more Indians to invest in these Government Bluchips.

The eGOM have appoved the IPO of Satlaj Jal Vidut Nigam – a JV between Govt of India and Himachal State Government. This company had a profit of Rs 725 crore in FY09 and is once again clean energy company 🙂 The Valuation of this company is pegged at INR 20,000 cr and thus the IPO is likely to be of Rs 2,000 cr.

Other Follow on Public Offers – FPOs are likely in REC, NTPC and SAIL.

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