SJVN Invites Bids from Banks to Handle ₹450 Crore Interim Dividend Payment

New Delhi: SJVN Limited, a joint venture of the Government of India and the Government of Himachal Pradesh, has invited offline quotations from eligible Indian scheduled commercial banks for the selection of a bank to handle the payment of its Interim Dividend for the financial year 2025–26, amounting to approximately Rs 450 crore.

The Notice Inviting Quotation (NIQ) has been issued through SJVN’s Contracts & Procurement Section at its Liaison Office in New Delhi. The bidding process will follow a single-stage, two-envelope system, comprising a technical bid and a financial bid.

According to the NIQ, the interim dividend declaration is subject to approval by SJVN’s Board of Directors in a meeting tentatively scheduled for February 6, 2026. As per the Companies Act, 2013, the declared dividend amount must be deposited in a separate bank account within five days of declaration and paid to shareholders within the prescribed timeline.

SJVN currently has around 14.5 lakh shareholders, including the Government of India holding 55% equity, the Government of Himachal Pradesh holding 26.85%, and the remaining 18.15% held by financial institutions, banks, and the public. The company’s paid-up capital stands at Rs 3,929.80 crore.

The selected bank will be responsible for dividend disbursement through ECS/NACH, issuance of at-par dividend warrants, reconciliation of paid and unpaid instruments, coordination with the Registrar and Transfer Agent, and long-term reconciliation until transfer of unclaimed dividends to the Investor Education and Protection Fund (IEPF), in line with statutory requirements.

Only scheduled commercial banks with proven experience in handling dividend payouts for listed companies with a large shareholder base are eligible to participate. The bank must also meet prescribed net worth, capital adequacy, and credit rating criteria, as specified in the NIQ.

The last date for submission of bids is January 27, 2026, by 3:00 PM, and the technical bids will be opened the same day at 4:00 PM at SJVN’s New Delhi office. Financial bids of technically qualified banks will be opened on a later date.

SJVN has stated that the final selection will be based on the highest overall financial benefit offered to the company, considering the dividend float period. The company reserves the right to reject any or all bids without assigning any reason.