The IPO of NTPC’s NTPC Green Energy Limited has opened. This is a mega IPO of Rs 10,000 crore, which opened from November 19. This IPO will close on 22 November. This IPO of NTPC Green is going to be the biggest IPO in the renewable energy sector. Clean energy goals can be achieved through this IPO. Through this IPO, investors will get an opportunity to take part in the country’s energy transformation.
The price band for the IPO has been fixed at Rs 102-108. Investors can bid through IPO. Retail investors will have to invest a minimum of Rs 14,904. The maximum investment amount is Rs 1,93,752 which will be for 13 lots. The IPO involves a fresh issue of 92.59 crore equity shares. No offer for sale has been made in this.
– Qualified Institutional Buyers (QIBs): 75 per cent of the net issue.
– Non-Institutional Investors (NIIs): 15 percent of the net issue.
– Retail investors: 10 percent of the net issue.
– Shares worth Rs 200 crore are reserved for employees, which are offered at a discount of Rs 5 to the final price; Additionally, shares worth Rs 1,000 crore have been reserved for NTPC shareholders.
Let us tell you that NTPC Green Energy had raised Rs 3,960 crore. Through this, NTPC had allotted 36.67 crore equity shares to key investors at Rs 108 per share. Major global anchor investors include Goldman Sachs, Morgan Stanley, the Government of Singapore and the Abu Dhabi Investment Authority. On the domestic front, LIC of India, ICICI Prudential Mutual Fund, Nippon Life India and Kotak AMC were among the major participants. Of the total allotment, 14.53 crore shares were subscribed by 16 domestic mutual funds through 72 schemes.
The company plans to use Rs 7,500 crore from the IPO proceeds to reduce the debt of its subsidiary NTPC Renewable Energy. With this, its outstanding borrowings will reduce from Rs 17,057.5 crore to Rs 9,557.5 crore by September 2024. The remaining funds will be used for general corporate purposes.
