The initial public offering of NTPC Green Energy Ltd, the renewable energy arm of NTPC, got fully subscribed on the third day of the share sale on Friday (November 22, 2024).
The ₹10,000-crore share sale received bids for 60,68,16,774 shares, as against 59,31,67,575 shares on offer, translating into 1.02 times subscription, as per NSE data till 11:27 hours.
The portion for Retail Individual Investors (RIIs) got subscribed 2.70 times. The quota for Qualified Institutional Buyers (QIBs) fetched 75% subscription, while the non-institutional investor’s part got subscribed 42%.
NTPC Green Energy has mobilised ₹3,960 crore from anchor investors.
The 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 ₹102-108 per share.
Proceeds from the IPO to the tune of ₹7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans and a portion will be utilised for general corporate purposes.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd (formerly known as IIFL Securities Ltd) and Nuvama Wealth Management are the book-running lead managers to the issue.
Published - November 22, 2024 07:42 am IST
