NTPC Green Energy launched its IPO (Initial Public Offering) yesterday, November 19 2024. This IPO secured an impressive 33% subscription on day 1, led by retail investors who booked 1.33 times the shares offered. The company also gained Rs 3,960 crore from its anchor investors. Non-institutional investors subscribed to 16% of the offered shares.
NTPC is offering its shares for Rs 102 to Rs 108 in the primary market, and each lot has 138 shares. This IPO will end on November 22. According to Livemint, the grey market premium of NTPC Green Energy is Rs 1.15 per share, while the upper price band is Rs 108 in the market. So, the NTPC Green Energy shares are listed at Rs 109.15 per share.
Initial share sales, valuing around Rs 10,000 crores, only include new equity shares. Many of the IPO proceedings will be used to repay or prepay NTPC Green Energy Limited’s outstanding loans, while the remaining amount will be set aside for general corporate needs.
NTPC Green Energy Limited is a central public sector company that focuses on renewable energy by combining wind and solar power. At present, the company has achieved 3.5 GW of capacity, while 28 GW is undergoing development, but it aims to achieve 60 GW of renewable energy capacity by 2032.
