NTPC Green Energy is likely to finalize the basis of allotment of its shares on Monday, November 25. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, November 26. The PSU renewable energy player saw a muted response from the investors during the three-day bidding.
The IPO of Delhi-based NTPC Green Energy was open for bidding between November 19 and November 22. It had offered its shares in the price band of Rs 102-108 per share with a lot size of 138 shares. The company raised a total of Rs 10,000 crore via IPO, which was entirely a fresh share sale of up to 92,59,25,926 equity 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.
The grey market premium of NPTC Green Energy has improved marginally despite a muted bidding for the PSU utilities player. Last heard, the company was commanding a premium of Rs 3.50 in the unofficial market, suggesting a mild listing for the investors of around 3-4 per cent, over the given issue price.
Incorporated in April 2022, NTPC Green Energy, promoted by NTPC under Ministry of Power, is a renewable energy company that focuses on undertaking projects through organic and inorganic routes. The company 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 for a long-term subscription only. They are positive on the company's strong parentage, rising demand for renewable energy, long term agreement for the clients, positive cash flows and cash rich nature of the business. However, rich valuations and any turnaround in government policies are its major concerns.
IDBI Capital, IIFL Securities, HDFC Bank and Nuvama Wealth Management are the book running lead managers of the NTPC Green Energy IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE on Wednesday, November 27.
Investors, who had bid for the issue of NTPC Green Energy, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select NTPC Green Energy Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.