NTPC Green Energy IPO Day 1 Live Updates: NTPC Green Energy, the clean energy arm of NTPC, launches its initial public offering for public subscription today (Tuesday, November 19). Prior to the IPO, NTPC Green Energy has secured ₹3,960 crore from anchor investors.
The initial share sale, valued at ₹10,000 crore, consists solely of new equity shares, with no portion allocated for an offer-for-sale (OFS). The public can subscribe to the issue, which has a price range set between ₹102 and ₹108 per share, from November 19 to November 22. Of the proceeds from the IPO, amounting to ₹7,500 crore, a significant portion will be directed towards repaying or prepaying some or all outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), while a part will also be set aside for general corporate needs.
NTPC Green Energy is a central public sector enterprise designated as ‘Maharatna’, focusing on renewable energy with solar and wind power installations across more than six states.
The NTPC group has set a goal to achieve 60 GW of renewable energy capacity by 2032. At present, it has 3.5 GW of capacity already installed, with an additional over 28 GW currently in development.
Stay tuned for more updates
NTPC Green Energy IPO Day 1 Live Updates: SBI Securities recommends ‘Subcribe for Long term’
“The company has exponential growth potential in medium term with its Revenue/EBITDA/PAT expected to grow at a CAGR of 79.0%/117.2%/123.8% to ₹11,250 cr/9,563 cr/1,980 cr respectively over FY24-27E period. We recommend investors to subscribe to the issue at cut-off price for long term,” the brokerage said.
NTPC Green Energy IPO Day 1 Live Updates: All you need to know about anchor investors
NTPC Green Energy Limited has raised Rs. 3,960 crores from anchor investors on Monday, November 18. The company notified the stock exchanges that it issued 36,66,66,666 equity shares at Rs. 108 per share on Monday, November 18, 2024, to its anchor investors. Among the foreign institutions that took part in the anchor investment were Capital World, Goldman Sachs, GIC, T. Rowe Price, Abu Dhabi Investment Authority, Morgan Stanley, Allianz Global, and several others.
Domestic institutions that took part in the anchor included Life Insurance Corporation of India, ICICI Prudential Mutual Fund, Nippon Life India Mutual Fund, Kotak Mutual Fund, Aditya Birla Sun Life Mutual Fund, DSP Mutual Fund, White Oak, Baroda BNP Mutual Fund, Canara Robeco Mutual Fund, Edelweiss Mutual Fund, among others.
NTPC Green Energy IPO Day 1 Live Updates: Here’s what NTPC Green Energy IPO GMP today signals ahead of opening
NTPC Green Energy IPO GMP today is +0.70. This indicates NTPC Green Energy share price was trading at a premium of ₹0.70 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of NTPC Green Energy share price is indicated at ₹108.7 apiece, which is 0.65% higher than the IPO price of ₹108.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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