NTPC Green Energy's IPO Makes a Strong Start

NTPC Green Energy Ltd's IPO received significant attention on Day 1, with retail investors oversubscribing by 1.5 times. Offering shares in the price range of Rs 102-108, the company seeks to raise Rs 10,000 crore. Proceeds will invest in its subsidiary and bolster renewable energy projects.

On its first day, NTPC Green Energy Ltd's Initial Public Offering (IPO) saw substantial interest, particularly from retail investors who oversubscribed their portion by 1.5 times. The shares are listed at a price range of Rs 102-108 each, reflecting strong demand for the state's green energy enterprise.

The company, a significant player in renewable energy, is offering fresh equities worth Rs 10,000 crore, equating to approximately 92.59 crore shares. Seventy-five percent of these shares are allocated for Qualified Institutional Buyers, 15 percent for High Net-Worth Individuals, and the remaining 10 percent for retail buyers.

The IPO proceeds, totaling Rs 7,500 crore, will fund investments in NTPC's subsidiary, NTPC Renewable Energy (NREL), addressing liabilities, capital expenditure, and other corporate needs. NTPC Green Energy aims for substantial growth by 2032, targeting 60 GW of renewable capacity, as it recently received SEBI approval for this listing.

(With inputs from agencies.)