The Union Government is likely to offload 10 per cent stake in Satluj Jal
Vidyut Nigam Ltd (SJVNL).
Besides, SJVNL is planning to raise Rs 1,200 crore through initial public
offer (IPO). The proposed IPO is expected to be launched in the current fiscal.
Currently, the government holds 75 per cent stake in SJVNL, the rest is held
by the Himachal Pradesh Government. Post IPO, the government's shareholding in
SJVNL is expected to come down to 65 per cent, though there will be no dilution
of state government equity.
The government intends to use disinvestment proceeds from the stake sale of
major PSUs to bridge the fiscal deficit.