NTPC Green Energy Limited is conducting an initial public offering (IPO) through a book-building process, offering a fresh issue of 92.59 crore shares. The state-owned renewable energy company aims to raise ₹10,000 crore from the public issue. The IPO opened for subscription on Tuesday, November 19, and will close on Friday, November 22.
On its first day, the public issue was 33% subscribed. Among the three investor categories, retail investors led the way, subscribing to 1.33 times the shares available to them. Non-Institutional Investors (NIIs) subscribed to 16% of their allotted shares, while Qualified Institutional Buyers (QIBs) did not participate on the opening day, as per Bombay Stock Exchange (BSE) data.
The company raised approximately ₹3,960 crore from investors during its anchor round on Monday, November 18. The price range for the public offer is set between ₹102 and ₹108 per share, with a face value of ₹10 per share. The minimum lot size for the public offer is 138 shares.
As of November 19, the grey market premium (GMP) for NTPC Green Energy Limited’s IPO was ₹1.15 per share. With the upper price band set at ₹108, the shares are expected to list at ₹109.15 per share, reflecting a 1.06% premium, according to Investorgain.com.
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NTPC Green energy IPO Details
NTPC Green Energy Limited is a wholly-owned subsidiary of NTPC Limited, focusing on renewable energy projects through both organic and inorganic growth. The funds raised from the IPO will be used to invest in its subsidiary, NTPC Renewable Energy Limited (NREL), repay or partially prepay outstanding borrowings, and cover general corporate expenses.
The public issue is scheduled to list on the BSE and NSE on Wednesday, November 27.
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