The initial public offering (IPO) of NTPC Green Energy Ltd, which is the renewable energy division of NTPC, was fully subscribed by the third day of the share sale on Friday.The ₹10,000-crore share sale attracted bids for 606,816,774 shares, compared to 593,167,575 shares available, resulting in a subscription rate of 1.02 times, according to data from the National Stock Exchange (NSE) as of 11:27 AM.The segment for Retail Individual Investors (RIIs) saw a strong response, getting subscribed 2.70 times. The portion allocated for Qualified Institutional Buyers (QIBs) received a 75% subscription, while the non-institutional investors’ share was subscribed at 42%.
NTPC Green Energy has raised ₹3,960 crore from anchor investors.This IPO consists entirely of new equity shares, with no offer-for-sale (OFS) component. The price range for the shares is set between ₹102 and ₹108 each.The funds raised from the IPO, amounting to ₹7,500 crore, will be used to pay off or prepay some or all of the outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), and a portion will also be allocated for general corporate needs.NTPC Green Energy is recognized as a ‘Maharatna’ central public sector enterprise, boasting a renewable energy portfolio that includes solar and wind power assets.The lead managers for this issue are IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd (previously known as IIFL Securities Ltd), and Nuvama Wealth Management.
