Latest News | NTPC Green Energy IPO Subscribed 33 Pc on Day 1 of Offer; Retail Investors Part Fully Booked
Get latest articles and stories on Latest News at LatestLY. The initial public offer of NTPC Green Energy Ltd, the renewable energy arm of NTPC, got subscribed 33 per cent on the first day of share sale on Tuesday.
New Delhi, Nov 19 (PTI) The initial public offer of NTPC Green Energy Ltd, the renewable energy arm of NTPC, got subscribed 33 per cent on the first day of share sale on Tuesday.
The share sale received bids for 19,46,53,968 shares against 59,31,67,575 shares on offer, according to data available with the NSE.
The portion for Retail Individual Investors (RIIs) fetched 1.33 times subscription while the category for non-institutional investors got subscribed 15 per cent.
NTPC Green Energy has mobilised Rs 3,960 crore from anchor investors.
The Rs 10,000-crore initial share sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component. The issue, with a price band of Rs 102-108 per share, will be available for public subscription from November 19 to 22.
Proceeds from the IPO to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans and a portion will be utilised for general corporate purposes.
NTPC Green Energy is a 'Maharatna' central public sector enterprise with renewable energy portfolio, including solar and wind power assets.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd (formerly known as IIFL Securities Ltd) and Nuvama Wealth Management are the book-running lead managers to the issue.
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