Representative image
| Photo Credit: Reuters
The initial public offer of NTPC Green Energy Ltd, the renewable energy arm of NTPC, got subscribed 93% on the second day of bidding on Thursday (November 21, 2024).
The share sale received bids for 54,96,35,370 shares against 59,31,67,575 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) attracted 2.38 times subscription while the Qualified Institutional Buyers (QIBs) part got subscribed 75%. The portion for non-institutional investors received 34 per cent subscription.
NTPC Green Energy has mobilised ₹3,960 crore from anchor investors.
The ₹10,000-crore initial share sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component. The issue has a price band of ₹102-108 per share.
Proceeds from the IPO to the tune of ₹7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans and a portion will be utilised for general corporate purposes.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd (formerly known as IIFL Securities Ltd) and Nuvama Wealth Management are the book-running lead managers to the issue.
Published – November 22, 2024 07:42 am IST