Shares of NTPC Green Energy made its Dalal Street debut later today as the state-run renewable energy company was listed at Rs 111.60 on BSE, a premium of 3.33 per cent over its issue price of Rs 108. Similarly, the debutant PSU counter kicked-off its maiden trading session with a premium of 3.24 per cent over the given issue price at Rs 111.50 on NSE.
The listing of NTPC Green Energy has been on the better than expected lines. Ahead of its listing, shares of NTPC Green Energy were commanding a premium of Rs 1-2 in the unofficial market, suggesting a flat listing for the investors with negligible listing gains of around 2 per cent, over the issue price.
The IPO of Delhi-based NTPC Green Energy ran for bidding between November 19-22, to raise a total of Rs 10,000 crore, which was entirely a fresh share sale of up to 92,59,25,926 equity shares. The company offered its shares in the price band of Rs 102-108 per share with a lot size of 138 shares. The issue was overall subscribed merely 2.42 times.
The allocation for the qualified institutional bidders (QIBs) was subscribed 3.32 times The portion allocated for retail investors was subscribed 3.44 times. Allocations for retail and employees were booked 3.44 times and 0.80 per cent, respectively. However, the portion for non-institutional investors (NIIs) remained undersubscribed with 81 per cent bids.
NTPC Green Energy, promoted by NTPC Ltd under the Ministry of Power, is a renewable energy company that focuses on undertaking projects through organic and inorganic routes. The company, incorporated in April 2022, had an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects across six states as of August 31, 2024.
Brokerage firms had mostly had a positive view on the issue but suggested it with a long-term view. IDBI Capital, HDFC Bank, IIFL Securities, and Nuvama Wealth Management were the book running lead managers of the NTPC Green Energy IPO, while Kfin Technologies was appointed as the registrar for the issue.