NTPC Green Energy IPO: Retail Investors show strong interest on opening day

The retail investor portion of NTPC Green Energy IPO was fully subscribed at 1.01 times, showcasing strong demand from individual investors

NTPC Green Energy IPO subscription status: Retail investors have shown the highest interest among all investor categories in the initial public offering (IPO) of NTPC Green Energy, which opened for subscription today, Tuesday, November 19, 2024.  

 

According to data from the National Stock Exchange (NSE), the IPO has garnered an overall subscription of 0.24 times as of 12:48 PM. The retail investor portion was fully subscribed at 1.01 times, showcasing strong demand from individual investors. However, the Non-Institutional Investors (NII) segment saw limited interest, with a subscription level of 0.09 times.  

 

Qualified Institutional Buyers (QIBs) recorded the lowest participation so far, bidding for just 7,728 shares against the 25.88 crore shares reserved for the category. The employee and shareholder quotas have been subscribed 0.13 times and 0.41 times, respectively.

 

 

The public offering of NTPC Green Energy, a renewable energy arm of state-owned NTPC, comprises a fresh issue of 92.59 crore shares. The shares are being offered in a price band of Rs 102-108 per share with a lot size of 138 shares.  

 

meanwhile, in the grey market, NTPC Green Energy's  unlishares are trading at a premium of Re 1, translating to a grey market premium (GMP) of 0.93 per cent over the upper price band, according to sources tracking the unofficial market.  

 

The subscription window for the IPO will close on Friday, November 22, 2024. The basis of allotment is expected to be finalized on Monday, November 25, 2024.  Successful allottees are likely to receive shares in their demat accounts by Tuesday, November 26, 2024, with the shares tentatively set to list on the BSE and NSE on Wednesday, November 27, 2024.

 

Should you Subscribe to the NTPC Green Energy IPO?

Brokerages such as Reliance Securities, SBI Securities, Mehta Equities, and Swastika Investmart have broadly recommended subscribing to the IPO, citing its strong long-term growth potential.  READ MORE

 

A wholly-owned subsidiary of Maharatna company NTPC, NTPC Green Energy (NGEL) is focused on developing utility-scale solar and wind energy projects, as well as projects for PSUs and corporates. As of H1FY25, NGEL's portfolio comprised 16,896 MW, including 3,320 MW of operational projects and 13,576 MW of contracted and awarded projects. Additionally, it has 9,175 MW capacity in the pipeline, bringing the total capacity to 26,071 MW.