NTPC Green Energy IPO Buzzes with Strong Demand
NTPC Green Energy IPO Day One Gains Strong Reception
By Raisina Correspondent
New Delhi, November 19: In the first few hours, NTPC Green Energy’s Rs 10,000 crore IPO grabbed over 20 per cent subscription. The retailers have been most enthusiastic about the NTPC Green Energy’s Rs 10,000 crore IPO.
The retail investors have almost taken 0.80 times subscription of NTPC Green Energy’s Rs 10,000 crore IPO per BSE website. The retail portion is just 10 per cent in the NTPC IPO.
The NTPC IPO opened on a day when the stock market is rallying amid short covering after several days of corrections in the indices. All broader indices were trading higher with gains seen in the auto and the IT counters.
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NTPC is a Maharatna PSU. The thermal power giant also is a big renewal energy player in India.
NTPC Green Energy has installed capacity across solar and wind power in over six states. The total operational capacity of NTPC Green Energy is 3,220 MW in solar power.
NTPC Green Energy also has 100 MW installed capacity in wind power. NTPC Green Energy also awarded works for 13,576 MW projects. NTPC Green Energy also has 9,175 MW of renewal energy capacity in the pipeline.
NTPC Green Energy IPO has come after major success of the Waaree Energy IPO which had listed with gains of almost 70 per cent on bourses. Also, Premier Energies IPO had made stellar listing on the bourses.
However, the NTPC Green Energy IPO has come at a time when the stock markets had been caught in corrective phase. Also, the grey market premium per portals is not witnessing major uptick.
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NTPC Green Energy already has raised ₹3,960 crore from anchor investors. NTPC Green Energy is likely to list on bourses — Bombay Stock Exchange and National Stock Exchange — on November 27.
Waaree Energies had soared higher after listing last month. The solar power major had rallied to the level of ₹3600 after listing at about ₹2300. Similar, Premier Energies had also made handsome gains on the bourses after listing.
The last PSU public offer was IREDA which was offered in the IPO at ₹25 per share. The IREDA shares had listed around ₹48 but afterwards rallied to the levels of ₹330.
NTPC Green Energy IPO reserves not less than 75 per cent for Qualified Institutional Buyers (QIB). The quota for Non-Institutional Investors (NII) is 15 per cent.
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NTPC Green Energy IPO is offering up to ₹20 crore valued shares for employees. They will get a discount of ₹ 5 per share. NTPC Green Energy IPO is offering 92.59 crore fresh equity shares.
NTPC Green Energy IPO has set the price band for the public offer between ₹102-108 through book-building exercise. The lot size is 138 shares.
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