NTPC Green Energy IPO is all set for its stock exchange debut. The grey market premium has come down significantly to less than a per cent and it is likely to see a muted listing at Rs 109, just a rupee higher than the higher band of the issue price. However, in an interesting development, NTPC Green has entered into a 50:50 joint venture with Maharashtra State Power Generation Company. In accordance with this, the renewable energy arm of NTPC, all set for its listing, will develop, operate and maintain renewable energy park(s) in Maharashtra. This is under the Ultra-Mega Renewable Energy Power Parks(UMREPP) scheme.
NTPC Green Energy IPO: Key details
The initial public offering commenced on November 19 and garnered Rs 10,000 crore from investors. The initial public offering concluded on November 22. The company issued 92.59 crore fresh shares. The IPO price band was set between Rs 102 and Rs 108 for each equity share.
NTPC Green Energy IPO allotment
The allotment of shares for the NTPC Green Energy IPO was finalised on November 25, and the shares were credited into the D’mat accounts on November 26, along with the refunds. Also, the issue included a reservation of 19.41 million shares for employees, which were offered to them at a discount of Rs 5 to the issue price.
NTPC Green Energy: Expert take on IPO
“Despite the selloff mood in the market and expensive valuations, NTPC Green Energy, the leading player in India’s renewable energy sector received a decent demand from NII & Retail investors while NII stayed back with low interest. We believe NTPC Green Energy IPO is an opportunity to invest in a leading player in India’s renewable energy sector, backed by the formidable resources and expertise of NTPC as a Long term strategy only. With ambitious renewable energy targets, the company is well-equipped to capitalize on the increasing demand for sustainable energy solutions,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
Minimum investment for retail investors in NTPC Green IPO
A retail buyer had to apply for a minimum of 138 shares in a lot, which amounts to Rs 14,904. There were different lot sizes for small and big NIIs, ranging from Rs 2,08,656 to Rs 10,13,472.
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About NTPC Green Energy
NTPC Green Energy is a wholly-owned subsidiary of NTPC.
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