Mumbai: NTPC Green Energy IPO is all set to open for subscription on November 19, 2024, The public offer will close for bidding on 22 November. NTPC Green Energy IPO GMP price suggested that the much-talked about issue is yet to create any buzz in the grey market. The Rs 10,000-crore IPO’s latest GMP stood at Rs 0.70. With the price band set at Rs 108, the shares are expected to be listed at Rs 108.7 apiece, indicating a gain of 0.65 per cent, investorgain reported. It may be noted that GMP figures are not official.
The initial share-sale of NTPC Green Energy is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component. The price band has been set in the range of Rs 102 to Rs 108 per share.
NTPC Green Energy mobilised Rs 3,960 crore from anchor investors on Monday. As oper the BSE website, the anchor investors included, ICICI Prudential Mutual Fund (MF)Goldman Sachs Funds, Kotak MF, Government of Singapore, DSP MF, Life Insurance Corporation of India, New World Fund Inc, and Nippon India MF.
NTPC Green Energy IPO allotment, listing
- NTPC Green Energy IPO allotment expected on November 25, 2024
- Refunds Process likely on 26 November
- The shares expected to be credited to the demat accounts on November 26
- Tentative Listing Date: November 27
The renewable energy arm of the NTPC allotted 36.66 crore equity shares to 107 funds at Rs 108 apiece. The allotment of shares at this price aggregates the transaction size to Rs 3,960 crore.
The company has announced that the proceeds from its Rs 10,000-crore initial share-sale will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans. It will also use it for general corporate purposes. The firm has said that it ha plans to utilise Rs 7500 crore from the proceeds.
NTPC Green Energy IPO Review
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NTPC Green Energy is categorised as a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio. It is engaged in the business of solar and wind power assets, which has its presence in over six states.
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