NTPC Green Energy Fully Subscribed on Day 3

NTPC Green Energy IPO was fully subscribed by 10:55 AM on Friday, November 22, 2024, with bids received for 100% of the shares on offer, according to data available on the NSE.

As of 11:45 AM on November 22, 2024, the retail investor portion had been subscribed 2.75x, while Qualified Institutional Buyers (QIBs) had placed bids for 0.75x. Non-Institutional Investors (NIIs) subscribed to 0.43x of the offering.

Prior to the issue opening, NTPC Green Energy raised ₹3,960 crore from anchor investors, with notable participants including Goldman Sachs, GIC, T. Rowe Price, Abu Dhabi Investment Authority, Morgan Stanley, and Allianz Global.

About NTPC Green Energy IPO

The company has set a price band of ₹102-108 per share, with investors able to bid for 138 shares in one lot and in multiples thereafter. The IPO, with a face value of ₹10 per share, consists entirely of fresh equity shares, with no Offer For Sale (OFS) component. NTPC Green Energy IPO allotment is expected to be completed by November 25, with the listing on BSE and NSE scheduled for November 27.

The proceeds from the fresh issue, up to ₹7,500 crore, will be used for investments in its wholly-owned subsidiary, NTPC Renewable Energy Ltd. (NREL), to repay some or all of NREL’s outstanding borrowings, as well as for general corporate purposes.

This IPO ranks as the 3rd largest of 2024, following Hyundai Motor India’s ₹27,870 crore issue and Swiggy’s ₹11,300 crore offering.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers for the issue.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.