NTPC Green Energy IPO Opens for Subscription, Shares in Focus
Shares of state-owned NTPC are expected to remain in focus on Tuesday as the initial public offering (IPO) of its subsidiary, NTPC Green Energy, opens for public subscription today. The IPO will close on November 22.
NTPC Green Energy raised Rs 3,960 crore from anchor investors ahead of the IPO’s opening on Monday, November 18, allocating 36,66,66,666 (36.67 crore) equity shares at a price of Rs 108 per share to the anchor investors.
Foreign Institutions that participated in the anchor included Capital World, Goldman Sachs, GIC, T. Rowe Price, Abu Dhabi Investment Authority, Morgan Stanley, Allianz Global, and many others.
Domestic Institutions that participated in the anchor included Life Insurance Corporation of India, ICICI Prudential Mutual Fund, Nippon Life India Mutual Fund, Kotak Mutual Fund, Aditya Birla Sun Life Mutual Fund, DSP Mutual Fund, White Oak, Baroda BNP Mutual Fund, Canara Robeco Mutual Fund, Edelweiss Mutual Fund and many others.
The funds raised from the offering will be used to invest in NTPC Renewable Energy, a wholly-owned subsidiary, as well as to repay debt and for other general corporate purposes.
The allotment for the IPO will be completed on November 25 and the listing is scheduled for November 27.
The GMP of NTPC Green is currently Rs 1 in the unlisted markets, which indicates a premium of 0.9% over the issue price.
NTPC Green, a subsidiary of NTPC, is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 24 and power generation in FY24.
Its renewable energy portfolio includes both solar and wind power assets across multiple locations in over six states, helping to mitigate the risks associated with location-specific generation variability.
