NTPC Green Energy Ltd, NTPC’s renewable energy subsidiary, had its initial public offering (IPO) fully subscribed on Friday, the third day of its share sale.
According to NSE data as of 11:27 AM, the ₹10,000-crore IPO received bids for 60,68,16,774 shares against an offer size of 59,31,67,575 shares, reflecting a subscription rate of 1.02 times.
The portion reserved for Retail Individual Investors (RIIs) witnessed a strong response, being subscribed 2.70 times. The segment for Qualified Institutional Buyers (QIBs) achieved 75% subscription, while Non-Institutional Investors (NIIs) subscribed to 42% of their allocated quota.
Key Details
- Anchor Investors: NTPC Green Energy raised ₹3,960 crore from anchor investors before the IPO.
- Price Band: The shares were offered within a price range of ₹102-₹108 per share.
- IPO Structure: The offering was entirely a fresh issue of equity shares, with no offer-for-sale (OFS) component.
The proceeds, amounting to ₹7,500 crore, will primarily be used to repay or prepay loans of NTPC Renewable Energy Ltd (NREL), a subsidiary. A portion of the funds will also be allocated for general corporate purposes.
The IPO was managed by IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd, and Nuvama Wealth Management as the book-running lead managers.
With strong retail participation and a fully subscribed offering, NTPC Green Energy’s IPO marks a significant milestone in its renewable energy journey.
