NTPC Green Energy IPO Recieves 24% Subscription On Day 1

The initial public offering (IPO) of NTPC Green Energy saw a subscription rate of 24 per cent on its opening day, 19 November, with investors bidding for 14.2 crore shares out of the 59.3 crore shares available.

Retail Individual Investors (RIIs) displayed robust interest, fully subscribing to their allocated 8.6 crore shares. Non-Institutional Investors (NIIs) placed bids for 1.2 crore shares against their quota of 12.9 crore shares. However, Qualified Institutional Buyers (QIBs) showed subdued interest, subscribing to just over 7,700 shares of the 25.9 crore shares reserved for them.

The IPO, structured as a book-built issue, aims to raise Rs 10,000 crore through the fresh issuance of 92.6 crore shares. The price band for the offering is set between Rs 102 and Rs 108 per share, with retail investors required to bid for a minimum lot size of 138 shares, amounting to Rs 14,904.

Subscriptions will close on 22 November, and allotments are expected on 25 November. The tentative listing date is 27 November on the BSE and NSE.

Anchor Book Raises Rs 3,960 Crore
Ahead of the public offering, NTPC Green Energy secured Rs 3,960 crore via its anchor book on November 18. Prominent global institutional investors, including the New World Fund, International Growth and Income Fund, Goldman Sachs, Morgan Stanley, the Government of Singapore, Monetary Authority of Singapore, T Rowe, Abu Dhabi Investment Authority, and BNP Paribas, participated in the anchor round.

Proceeds from the IPO will primarily be used to support NTPC Green Energy's investment in its subsidiary, NTPC Renewable Energy, and to repay outstanding borrowings. A portion of the funds will also be allocated for general corporate purposes.