NTPC Green Energy Limited (NGEL) on the first day of bidding (Day 1) on Tuesday (November 19) was subscribed at 33 per cent. It is also noteworthy that on the first day itself, retail investors led the charge, showing strong enthusiasm for the renewable energy giant.

Subscription Details on Day 1

The public issue received bids for 19.48 crore shares against the total offer of 59.31 crore shares. The price band of the issue was set between Rs 102 to Rs 108 per equity share.

Here’s how the subscription across categories were divided:

Retail Portion - On the day 1, the issue was subscribed 1.33 times.

Non-Institutional Investors (NII): The NII portion was subscribed 0.16 times.

Reservation Portion - This portion was subscribed at a rate of 0.57 times on the first day of bidding.

Similarly, the Employee Portion was subscribed at 0.17 times.

Qualified Institutional Buyer (QIB) Portion - Yet to gain traction.

The IPO wich kicked off today (Novemner 19), will remain open for subscription until November 22, 2024.

Anchor Investors Back NTPC Green Energy

Ahead of the IPO, NGEL receivced Rs 3,960 crores from anchor investors with notable participants such as global and domestic heavyweights such as Goldman Sachs, Morgan Stanley, Abu Dhabi Investment Authority, GIC, LIC, and several mutual funds like ICICI Prudential, Nippon India, and Kotak Mutual Fund.

GMP and Listing

As per investorgain, the grey market premium (GMP) for NTPC Green Energy as of now stands at just Rs 1 per share, indicating that the shares are trading at their issue price of Rs 109 with no premium or discount.

The listing of the public issue is expected to take place on November 27, on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Key highlights of the company

Portfolio - 16,896 MW, including 3,320 MW operational projects and 13,576 MW under contract.

Pipeline Projects - 26,071 MW.

Strong Offtake Agreements - 17 offtakers across 41 solar and 11 wind projects.

Financial Highlights

Revenue Growth - 79 per cent annually (FY24-FY27).

EBITDA Growth - 117.2 per cent annually.

Net Profit Growth - 123.8 per cent annually.

NTPC Green Energy is one of the India's largest renewable energy public sector enterprise (excluding hydro) by operating capacity and power generation as of September 30, 2024. Its renewable energy portfolio spans solar and wind assets across multiple states.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.