SJVNL IPO only next year
State-owned hydropower producer Satluj Jal Vidyut Nigam (SJVNL) is in the process of appointing independent directors in line with norms laid down by the market regulator to be able to come out with an initial public offer (IPO). "The process will take around 6 months and our IPO will come only after that," H K Sharma, managing director, SJVNL said. As per Sebi norms, if a company has an executive chairman, it must have half the board as independent directors to be able to go for an IPO. Last month, the Centre had approved sale of 10% stake in the company.



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