Where can you apply for SJVN OFS?

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SJVN Limited’s Offer For Sale (OFS) is underway. Perhaps, Friday, September 22, 2023, is the one and only day for retail investors to subscribe to the OFS.  On Thursday, September 21, 2023 i.e. on the first day of the OFS, non-retail investors were allowed to apply for the OFS. The stake sale process received decent response from this segment. The non-retail quota was subscribed more than twice its size. On Thursday, the scrip closed at Rs 71.20 on the NSE. Retail investors can still avail of Rs 2.20 discount on every share they bid under the OFS against the floor price of Rs 69.

Where can you apply for SJVN’s OFS?

You can apply for any OFS on your stock broker’s platform such as Zerodha, ICIC Direct, Sharekhan, Groww etc. You can follow the prompts on the platform and apply.

Bidding time

Bidding time for any OFS is from 9:15 am to 3:30 pm on both the days of the stake sale.

When will you get allotment of shares in OFS?

In an OFS, if you get allotment of shares, then, shares will be credited to your demat account on the next trading day i.e. T+1 day. So, in case of SJVN’s OFS, you can get allotment of shares on next trading day after the close of the issue i.e. on Monday, September 25, 2023. SJVN’s OFS closes on Friday, September 22, 2023.

How can you check allotment of shares?

If the shares under the OFS have been allotted to you, then, it will reflect in your T+1 holdings in your portfolio.

How many shares you can bid for in an OFS?

A retail investor can invest maximum of Rs 2 lakh in a company’s OFS. While, there is no requirement of placing bid for minimum number of shares.

At what price will you get credit of shares in OFS?

Watchout! It is not necessary that you will get the shares at the floor price fixed by the company. Shares can also be allotted at higher than the mentioned floor price as according to Sebi, the allotment price can be changed according to demand and supply dynamics in the OFS.

Will any charges be levied?

Yes, STT, transaction charges and GST will be levied on your order.

Did you know?

Only top 200 listed companies by market capitalisation can bring OFS.