After a bunch of junk IPOs that have flooded the market like Nitesh Estates ( subscribed 1.15 times ) , Tarapur Transformers that seems to have only retail and HNI investors till now,Tara Health Food ( hugely overpriced)  , Tawalkars Gym ( same overpricing) and Mandwana, we seem to have a quality IPO coming at a decent price.The government has apparently discounted this offering after dismal perfromance by earlier IPO and FPOs like NTPC,NMDC etc.
SJVN selloff price lowered – Economic Times

In a surprise move, the government has settled for a divestment price for SJVN (formerly Satluj Jal Vidyut Nigam) that is substantially lower than the price that institutional investors were willing to pay during the company’s pre-IPO marketing rounds.

On Tuesday, SJVN said the government will sell 41.50 crore shares through the IPO at a price band of Rs 23-26 per share. Earlier institutional investors were willing to pay a price in the range of Rs 27-30 per share, market players said.

Through this offering, the government is offloading 10% of the hydro-power generating company and is expected to mobilise around Rs 1,000 crore. The IPO will open on April 29 and close on May 3. Retail investors will get a 5% discount to the final price, set post the book building process.

Brokers and dealers said that the move by the government to agree to a price band that is about 13-15 % lower than what was being planned initially, indicates that the government has realised it needs to leave something on the table for investors to come back to all the divestment offers. ‘‘ Going by the price band and the fundamentals of the company, SJVN could bring back retail investors to divestment offers,” head of a local investment advisory firm said.

Over the last one year, the government has divested its stakes in five companies — NTPC, REC, NMDC, Oil India and NHPC, raising about Rs 23,500 crore. However, retail response to these offers were hardly encouraging since most analysts and brokers felt that the pricing to most of the issues were on the higher side. For example in NMDC divestment, the retail response was just about 20% of the portion reserved for these investors.