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IPO

NTPC Green Energy’s Rs.10,000-Cr IPO gets fully subscribed

Business Standard   NTPC Green Energy Ltd  

The INR 10,000-crore initial public offering of NTPC Green Energy Ltd , the renewable energy arm of NTPC, got fully subscribed on the third day of the share sale. The IPO received bids for 60,68,16,774 shares, as against 59,31,67,575 shares on offer, translating into 1.02 times s ubscription. The share sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component.The portion for Retail Individual Investors (RIIs) got subscribed 2.70 times. The quota for Qualified Institutional Buyers (QIBs) fetched 75% subscription, while the non-institutional investors part got subscribed 42%. Earlier, NTPC Green Energy had mobilised INR 3,960 crore from anchor investors. The issue has a price band of INR 102-108 per share.The proceeds from the IPO to the extent of INR 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans.IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd (formerly IIFL Securities Ltd) and Nuvama Wealth Management are the book-running lead managers to the issue.

For FY24, NTPC Green Energy had reported about INR 1,962.60 Cr in Operating Income and about INR 342.86 Cr in PAT.