The NTPC Green Energy IPO garnered a subscription rate of 33 percent on its opening day, November 19, with bids placed for 19.48 crore shares out of the 59.3 crore shares on offer.
Retail individual investors (RIIs) showed strong interest, subscribing to 133 percent of their allocated 8.6 crore shares. Non-institutional investors (NIIs) bid for 2 crore shares against their allocation of 12.9 crore shares. Meanwhile, qualified institutional buyers (QIBs) showed minimal participation, subscribing to just over 87,906 shares out of the 25.9 crore shares earmarked for them, while the employees portion was subscribed 17 percent.
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The NTPC Green IPO, a book-built issue, aims to raise Rs 10,000 crore through a fresh issue of 92.6 crore shares. With a price band set at Rs 102-Rs 108 per share, retail investors can participate with a minimum lot size of 138 shares, requiring an investment of Rs 14,904.
Subscriptions for the NTPC Green IPO will close on November 22, with allotments expected on November 25 and a tentative listing date of November 27 on the BSE and NSE.
NTPC Green IPO raised Rs 3,960 crore via anchor book on November 18. Marquee global institutional investors that became shareholders in NTPC Green Energy via anchor book included New World Fund, International Growth and Income Fund, Goldman Sachs, Morgan Stanley, New York State Teachers Retirement System, Government of Singapore, Monetary Authority of Singapore, T Rowe, Abu Dhabi Investment Authority, and BNP Paribas.
The proceeds from the IPO will primarily fund NTPC Green Energy's investment in its subsidiary, NTPC Renewable Energy Ltd, to repay outstanding borrowings. A portion will also be allocated for general corporate purposes.
Incorporated in April 2022, NTPC Green Energy, a wholly-owned subsidiary of NTPC Ltd, focuses on renewable energy projects and aims to establish itself as a leader in India’s clean energy transition.
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