The initial public offering (IPO) of NTPC Green Energy Limited, a state-run renewable energy company, will open for public bidding on Tuesday, November 19, and close on Friday, November 22. The IPO will begin with an anchor round on Monday, November 18.
NTPC Green Energy plans to raise nearly ₹10,000 crore through a fresh issue of 92.59 crore shares. The price band for the offer has been set between ₹102 and ₹108 per share, with a face value of ₹10 per share. The lot size is 138 shares per lot.
The IPO will allocate:
- 75% for Qualified Institutional Buyers (QIB)
- 15% for Non-Institutional Investors (NII)
- 10% for retail investors
Employees of NTPC Green Energy are also eligible for a special allocation of shares worth ₹20 crore, along with a ₹5 discount per share.
The book runners for the issue are IDBI Capital Market Services, HDFC Bank, IIFL Securities, and Nuvama Wealth Management, while Kfin Technologies will handle the registration process.
Latest GMP (Grey Market Premium) for NTPC Green Energy IPO
As of November 17, the grey market premium (GMP) for the IPO is at ₹1 per share. This suggests that shares could list at ₹109 per share (assuming the upper price band of ₹108), indicating a potential 0.93% gain for investors, according to Investorgain.com. However, the GMP has dropped from ₹9 per share on November 12.
About NTPC Green Energy
NTPC Green Energy is a fully owned subsidiary of NTPC Limited, focusing on renewable energy projects. The company plans to use the funds raised from the IPO to invest in its subsidiary, NTPC Renewable Energy Limited (NREL), and also to pay off some of its outstanding debts. The remaining funds will be used for general corporate purposes.
The shares of NTPC Green Energy are expected to be listed on the BSE and NSE on Wednesday, November 27.
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