November 21, 2024, India - The NTPC Green Energy IPO achieved a subscription rate of nearly 90% on its second day, with bids for approximately 53 crore shares out of 59.3 crore shares offered.
Retail individual investors (RIIs) demonstrated significant interest, subscribing to 2.3 times their allocated 8.6 crore shares. The Qualified Institutional Buyers (QIBs) category was subscribed at 74% of the 25.9 crore shares allocated. Non-Institutional Investors (NIIs) showed minimal engagement, with bids for 3.9 crore shares against an allocation of 12.9 crore shares, resulting in a 31% subscription rate. The employee category saw a subscription of 37%.
This book-built IPO aims to raise Rs 10,000 crore and includes a fresh issue of 92.6 crore shares, priced between Rs 102-108 per share. Subscription for the NTPC Green IPO will close on November 22, with allotments expected by November 25 and a tentative listing on November 27 on the BSE and NSE.
Prior to the IPO, NTPC Green secured Rs 3,960 crore through its anchor book on November 18, attracting global investors including New World Fund, Goldman Sachs, Morgan Stanley, Government of Singapore, T Rowe, and Abu Dhabi Investment Authority.
Proceeds from the IPO will mainly fund investments in NTPC Renewable Energy, repay outstanding debts, and cover general corporate expenses. Established in April 2022, NTPC Green Energy is a wholly-owned subsidiary of NTPC Ltd, focusing on renewable energy projects to lead India's clean energy transition.