The initial public offering (IPO) of NTPC Green Energy, a wholly-owned subsidiary of India’s largest power producer NTPC, garnered significant interest on the second day of its subscription period, particularly driven by retail investors.
NTPC Green Energy IPO; Day 2 Subscription Details
By the end of the second day of bidding, the NTPC Green Energy IPO was subscribed 93%, according to data from the Bombay Stock Exchange (BSE). Retail investors led the demand, with their portion subscribed 2.38 times.
While the portion reserved for Non-Institutional Investors (NIIs) was subscribed at 34% and Qualified Institutional Buyers (QIBs) at 75%. The IPO received applications for 54,97,38,180 shares against the 59,31,67,575 shares on offer. On its opening day, the IPO saw a subscription rate of 33%.
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Allocation for Different Investor Categories
The NTPC Green Energy IPO has reserved 75% of the issue for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and 10% for retail investors. Additionally, employees of NTPC are allocated shares worth up to Rs 20 crore, with a discount of Rs 5 per share offered to eligible employees.
Latest Grey Market Premium Of NTPC Green Energy IPO
As of today, NTPC Green Energy’s grey market premium (GMP) remains at +0, indicating that its shares are trading flat in the grey market. This suggests no additional premium over the IPO price.
Also ReadNTPC Green Energy IPO 2024 Live Updates: Check subscription status, allotment, listing, date, and other key details
Based on the upper end of the IPO price band and the flat grey market premium, the estimated listing price is anticipated to be Rs 108 per share, aligning with the IPO’s cap price.
Recent grey market activity has shown a downward trend in GMP for NTPC Green Energy shares. Over the past 17 sessions, the GMP has fluctuated between Rs 0 and Rs 25, according to experts from Investorgain.com. The GMP reflects investor sentiment, indicating their willingness to pay above the IPO price.
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