NTPC Green Energy IPO sails through on Day 3, retail portion booked 3.44x; check GMP and other key details

NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy IPO was fully subscribed at 2.42x on the last day of subscription on November 22.

The share sale received bids for 143.37 crore shares against 59.31 crore shares on offer, as per NSE data.

The category for retail individual investors (RIIs) of the renewable energy arm of NTPC attracted 3.44 times subscription while the qualified institutional buyers (QIBs) part got subscribed 3.32x percent. The portion for non-institutional investors received 81 percent subscription.

Earlier, NTPC Green Energy mobilised Rs 3,960 crore from anchor investors.

The Rs 10,000-crore initial share sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component. The issue has a price band of Rs 102-108 per share.

According to market observers that track the grey market premium activities, the shares of NTPC Green Energy are commanding a flat GMP in the unofficial market.

NTPC: What next for the stock with NTPC Green Energy IPO done?

The share allotment is likely to take place on November 25, while listing will take place on November 27, 2024.

Proceeds from the IPO amounting to Rs 7,500 crore will be utilised to repay or prepay a part or the entire outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), with a portion allocated for general corporate purposes.

NTPC Green Energy, a 'Maharatna' central public sector enterprise, holds a renewable energy portfolio comprising solar and wind power assets.

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