NTPC Green Energy IPO Sees Strong Interest

The initial public offering (IPO) of NTPC Green Energy Ltd was subscribed 2.40 times on its closing day, generating bids for over 142 million shares. This IPO aims to raise Rs 7,500 crore, primarily to repay loans and fund corporate activities. Retail and institutional segments showed strong interest.

The initial public offering of NTPC Green Energy Ltd closed with a robust 2.40 times subscription, underscoring significant interest in the renewable energy sector. The IPO saw bids for an impressive 142 million shares against the 59 million on offer.

Retail investors drove demand with a 3.39 times subscription, while qualified institutional buyers participated with a 3.32 times engagement rate. Non-institutional investors subscribed to 81% of their allocation. Ahead of the IPO, NTPC Green Energy raised Rs 3,960 crore from anchor investors.

The proceeds, expected to reach Rs 7,500 crore at the higher end of the price band, will be used mainly to clear debts of NTPC Renewable Energy Ltd and support general corporate needs. Key financial institutions, including IDBI Capital Markets & Securities and HDFC Bank, managed the offering.

(With inputs from agencies.)