Public sector hydropower generator SJVN Ltd will repay Rs 3,800-crore loan, it took to fund the 1,500-mw Nathpa Jhakri plant in Himachal Pradesh by 2015.

The unpaid loan on the plant is Rs 1,200-1,300 crore. Of this, about Rs 750 crore is due to Power Finance Corporation (PFC), Rs 200 crore to Rural Electrification Corporation (REC) and Life Insurance Corporation (LIC) each and Rs 150 crore to German bank KfW, company sources said.

Out of the total loan amount, SJVN had borrowed Rs 2,000 crore from the World Bank, which it later got refinanced by PFC, REC and LIC. SJVN is a joint venture between the central government and Himachal Pradesh.

The Centre holds 74.5% stake in SJVN. As part of its disinvestment programme, it plans to offload 10% stake through an initial public offer (IPO) this fiscal.

SJVN is expected to file a red herring prospectus this week after securing board?s approval. Its board is slated to meet on Tuesday.

SJVN, whose operations were earlier confined to Himachal Pradesh, has now started taking up hydropower projects outside the state boundary as well.

Currently, it is implementing projects in Uttarakhand.

Besides, it is also 900 mw Arun-III hydroelectric project in Nepal.