The government today said the initial public offering (IPO) of state-run Satluj Jal Vidyut Nigam Ltd (SJVNL) is likely to be delayed as the market conditions are not suitable.
"The IPO is slightly delayed, looking at what happened to REC and NTPC, the market is not conducive and it (IPO) could come in the first half of 2010-11," SJVNL CMD HK Sharma told reporters here.
The government is disinvesting 10 per cent of its 75 per cent stake in SJVNL and is expecting to raise around Rs 1,200 crore from the stake sale.
However, the board of the company has cleared the Draft Red Herring Prospectus (DRHP) for the IPO.
