One-third of NTPC Green IPO subscribed on Day 1, retail portion oversubscribed

The Initial Public Offering (IPO) of NTPC Green Energy Ltd (NGEL) was subscribed to astir one-third of the shares connected connection connected Day 1. The shares meant for retail investors were oversubscribed, astatine astir 1.5 times to that of the offerings, information showed.

The state-owned greenish vigor institution kept IPO contented terms astatine the scope of Rs 102-108 per share, with a batch size of 138 shares.

The institution is offering caller equities to the nationalist worthy Rs 10,000 crore totaling astir 92.59 crore shares. Of the total, 75 per cent is for Qualified Institutional Buyers, 15 per cent for High Net-Worth Individuals, and 10 per cent for retail buyers.

The proceeds from the caller contented worthy Rs 7,500 crore volition beryllium utilized for concern successful its wholly-owned subsidiary, NTPC Renewable Energy (NREL) for repayment oregon prepayment; superior expenditure; and different wide firm purposes.

Promoted by NTPC, NTPC Green Energy is simply a sizable renewable vigor nationalist assemblage endeavor (excluding hydro) successful presumption of operating capableness and powerfulness generation.

As of June 30, 2024, NTPC Green's portfolio consisted of 14,696 MWs including 2,925 MWs of operating projects and 11,771 MWs of contracted and awarded projects. Additionally, it has 10,975 MWs of capableness nether the pipeline, aggregating to 25,671 MWs unneurotic with its portfolio.

Over the adjacent 6-9 years, the institution plans 14 GW of pumped hydro-capacity to beryllium commissioned versus the existent installed 3.3GW. Under operation is 5.9GW and successful the pipeline is 10.8 GW.

The institution aims to scope 60 GW of renewable capableness by 2032.

In precocious October, NTPC Green Energy, a wholly owned subsidiary of NTPC, has received superior markets regulator Securities and Exchange Board of India (SEBI) motion to rise wealth done an archetypal nationalist offering (IPO).

Initial nationalist offering (IPO) refers to the process wherever companies merchantability their shares to the nationalist to rise equity superior from the investors. Taking opportunities successful India's booming banal market, galore companies intended to database their shares, and a sizable fig of them person made handsome gains.

The Company had filed its IPO papers with the regulator connected September 18.