NTPC Green Energy's IPO Sparks Interest with 33% Subscription on Day One

NTPC Green Energy Ltd's IPO was 33% subscribed on its first day. The offering saw significant interest from retail investors and managed to gather Rs 3,960 crore from anchor investors. The funds will primarily go toward repaying NTPC Renewable Energy's loans. The public issuance runs from November 19 to 22.

NTPC Green Energy Ltd, the renewable energy division of NTPC, witnessed a promising start as its initial public offering (IPO) was subscribed to the tune of 33% on the first day of trading.

According to data from the National Stock Exchange (NSE), 19,46,53,968 shares were bid for out of 59,31,67,575 available. The retail individual investors' (RIIs) portion was subscribed 1.33 times, whereas non-institutional investors contributed with a 15% subscription rate. The company raised Rs 3,960 crore from anchor investors.

This fresh equity issuance aims to gather Rs 10,000 crore, exclusively for new equity shares without any offer-for-sale component. Set at a price range of Rs 102-108 per share, the shares are open for public subscription till November 22. The Rs 7,500 crore from proceeds will be utilized in settling NTPC Renewable Energy Ltd's loans. Leading financial institutions like IDBI Capital Markets & Securities, HDFC Bank, and others are managing the IPO.

(With inputs from agencies.)