The NTPC Green Energy is wholly owned renewable energy arm of the NTPC (National Thermal Power Corp.) was listed on the NSE and BSE with premium of 3.2 per cent over the upper end of the price band, Rs 108 per share.
The 10,000 crore, public issue of NTPC green energy was subscribed over 2.5 times in the last day of subscription. The stock experienced a rally of more than 13.5 per cent. After listing the stock touched a high level of Rs 122.65 per share on the NSE (National Stock Exchange).
Investor’s profit after listing
For investors who also received IPO shares, the listing was dull. In the initial public offering (IPO), retail investors had to bid at least Rs 14,904 for a single lot of 138 shares. Investors had been given at least one lot at the NSE listing price for the NTPC green primary issue, investors would have profited Rs 496 per lot.
The issue price was Rs 14,904 (Rs 108 x 138), whereas the listing price of Rs 111.60 indicated that the single lot was worth Rs 15,400 (Rs 111.60 x 138).
NTPC Green Energy IPO details
NTPC Green Energy, the green energy division of the state-owned NTPC Ltd., sold its shares in the Rs 10,000 crore initial public offering (IPO) of new equity shares. There is no offer for sale (OFS) component.
The minimum lot size of 138 shares, which is worth Rs 14,904, and interested investors can bid multiples of that sum.
10 per cent of the net offer has been reserved by the company for retail investors, 15 per cent for non-institutional investors, and 75 per cent for qualified institutional purchasers.
Subscription timeline and use of IPO proceedings
Both general corporate purposes and the debt repayment of NTPC Renewable Energy Ltd. (NREL), a wholly owned subsidiary, will be covered by the funds.
The post-issue market value of the company is projected to be around 91,010 crore.
Subscriptions for the mainboard issue were accepted from November 19 to November 22.
