NTPC Green Energy IPO Sees 93% Subscription Amid Strong Retail Interest

NTPC Green Energy Ltd, a subsidiary of NTPC, has garnered 93% subscription on its second day of bidding for its IPO. It received substantial interest from Retail Individual Investors with 2.38 times subscription, while mobilizing Rs 3,960 crore from anchor investors. The proceeds will aid in loan repayment and company needs.

The initial public offering (IPO) of NTPC Green Energy Ltd witnessed a remarkable 93% subscription rate by the second day of bidding, showcasing significant interest, especially among Retail Individual Investors who oversubscribed their allotment by 2.38 times.

The renewable energy arm of NTPC, aiming to raise Rs 10,000 crore, has mobilized Rs 3,960 crore from anchor investors. The share sale recorded bids for 54,96,35,370 shares against the 59,31,67,575 shares on offer, according to data from the National Stock Exchange (NSE).

Proceeds from the IPO, set within a price band of Rs 102-108 per share, will be largely used to address outstanding loans of its subsidiary, NTPC Renewable Energy Ltd, and for general corporate purposes. Major financial entities such as IDBI Capital Markets & Securities, HDFC Bank, and IIFL Capital Services Ltd are managing the issue.

(With inputs from agencies.)