The stock exchange listing of NTPC Green Energy is scheduled for November 27.
The initial public offering (IPO) of NTPC Green Energy Limited was fully subscribed on the third and final day of the offering, November 22, driven by strong demand from retail investors.
According to NSE data, the motherboard issue of state-owned subsidiary NTPC Limited had been booked 1.27 times at 1 pm.
In total, NTPC Green Energy IPO received bids for 75,35,83,362 shares, compared to the 59,31,67,575 shares available for subscription.
The retail portion of the IPO was booked 2.85 times, while the Qualified Institutional Buyers (QIBs) category was booked 1.21 times. The non-institutional investors (NIIs) subscribed to only 47 percent of their quota.
The QIBs made bids for 31,34,78,316 shares, surpassing the 25,88,23,531 shares reserved for them. The NIIs applied for 6,06,62,178 shares, compared to 12,94,11,764 shares available for bids. Retail investors placed bids for 24,54,19,476 shares, compared to 8,62,74,509 shares reserved for the segment.
The shares of NTPC Green Energy will be listed on both the BSE and the National Stock Exchange (NSE), with a tentative listing date of November 27.
NTPC Green Energy IPO: Details
The NTPC Green Energy IPO is a book-built issue valued at Rs 10,000 crore. This issue consists entirely of a fresh issue of 92.59 crore shares, with the price band being between Rs 102 and Rs 108 per share. Retail investors can apply for a minimum of 138 shares, which requires an investment of Rs 14,904. For small non-institutional investors (sNII), the minimum investment is Rs 2,08,656, for 14 lots or 1,932 shares. For large non-institutional investors (bNII), the minimum investment required is Rs 10,13,472 for at least 68 lots or 9,384 shares.
IDBI Capital Market Services, HDFC Bank, IIFL Securities and Nuvama Wealth Management are the appointed book-running lead managers for the NTPC Green Energy IPO, with KFin Technologies serving as registrar of the issue.
NTPC Green Energy IPO: Key dates
The subscription window for the NTPC Green Energy IPO opened on November 19. The allocation basis for the IPO will be determined on Monday, November 25. Thereafter, refunds for unsuccessful applicants will be made on November 26, while shares will be credited to successful bidders. 'demat bills the same day. The listing of NTPC Green Energy on the stock exchanges is expected to take place on November 27.
NTPC Green Energy IPO: Objectives
NTPC Green Energy intends to use the proceeds from the IPO to invest in its wholly owned subsidiary, NTPC Renewable Energy Limited (NREL), for the partial or full repayment or prepayment of certain outstanding loans entered into by NREL. The company will also use a portion of the proceeds to cover general operating expenses.
Incorporated in April 2022, NTPC Green Energy Limited is a wholly owned subsidiary of public sector energy giant NTPC Limited. The company specializes in sustainable energy projects through both organic and inorganic means. As of August 31, 2024, the company's operating capacity includes 3,071 MW of solar energy and 100 MW of wind energy in six states.