By Day 2, the NTPC Green Energy IPO subscription status, subscribed 87% overall. Retail investors led the way, fully subscribing their portion on the first day itself. Other categories, like Non-Institutional Investors (NIIs) and Shareholders, saw moderate participation at 16% and 57%, respectively. The institutional segment (QIBs), however, is expected to pick up momentum as the closing date approaches.
The NTPC Green Energy IPO is turning heads in India’s renewable energy market. Open from November 19 to November 22, 2024, the offering is valued at ₹10,000 crore, with shares priced between ₹102 and ₹108. What makes this IPO special? It’s entirely fresh equity there’s no offer-for-sale component. This means all funds raised go directly to the company, boosting its plans to expand renewable energy operations.
The funds will primarily be used for two purposes:
- Debt Repayment: A significant portion will help clear loans of NTPC Renewable Energy Ltd (NREL).
- Corporate Initiatives: Remaining funds will go toward general business needs.
NTPC Green Energy is a Maharatna PSU that focuses exclusively on solar and wind energy projects, operating across multiple states. This IPO aligns with India’s push toward a greener economy and renewable energy expansion.
The allotment of shares is expected on November 25, 2024, with the listing shortly thereafter.
FAQs
1. What is the NTPC Green Energy IPO?
It’s a public offering by NTPC’s renewable energy arm to raise ₹10,000 crore for debt repayment and corporate purposes.
2. What is the price range for the IPO?
The shares are priced between ₹102 and ₹108.
3. Who can invest?
The IPO is open to retail investors, institutional buyers, and NTPC shareholders.
4. What is the subscription timeline?
The IPO runs from November 19 to November 22, 2024.
5. When will shares be allotted?
Share allotment will be finalized on November 25, 2024.
6. What are NTPC Green Energy’s business goals?
The company focuses on solar and wind power projects, contributing to India’s renewable energy targets.