NTPC Green Energy IPO: In a major development, as per media reports, NTPC Green Energy has finally fixed its price band, offer dates, and lot size. The IPO is expected to open next week, with its price bands fixed below Rs 110. The proposed equity shares of NTPC Green Energy IPO will be listed on BSE and NSE after the IPO.
NTPC Green Energy IPO Dates:
The green energy giant is likely to open its Rs 10,000 crore initial public offering on November 19, and the bidding will continue till November 22. The bidding for anchor is reported to open on November 18, as per red herring prospectus shared by IIFL Securities.
The IPO is entirely fresh issue worth Rs 10,000 crore, and hence there will be no offer for sale. Although, institutional investors will be able to bid for shares worth Rs 3,960 crore in anchor bidding on November 18.
NTPC Green Energy IPO Price Bands:
The price band for the IPO at the lower end is reported to be at Rs 102 per share, and at upper end at Rs 108 per share.
NTPC Green Energy IPO Investors Category:
Up to Rs 200 crore of the IPO size will be allotted to NTPC Green Energy's employees for bidding. These eligible employees will also receive Rs 5 per share discount on the IPO's final issue price.
Additionally, the IPO will keep up to Rs 1,000 crore under shareholder quota which is meant for NTPC shareholders. NTPC Green Energy IPO has a shareholding quota for shareholders of NPTC. This means that shareholders who hold NTPC shares as of the date of the Red Herring Prospectus (RHP) are eligible to participate in this quota category.
Excluding shareholders quota and employees portion, of the rest of the IPO size, 75% of it will be reserved for qualified institutional buyers (QIBs), followed by 15% to non-institutional investors, and lastly 10% of the issue to retail individual investors (RII).
NTPC Green Energy IPO GMP Today:
NTPC Green Energy IPO's last GMP is ₹9, last updated Nov 13th 2024 05:03 AM. The price band for IPO is not yet announced, will update the cap price and the estimated listing price shortly, as per Investor Grain.
NTPC Green plans to utilise the proceeds of the IPO for investment in its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL. The investment will be to the tune of Rs 7,500 crore. A portion will be kept for general corporate purposes among others.
NTPC Green Energy filed its draft prospectus on September 18, 2024. Sebi has approved the IPO on October 22, 2024.
Book-running lead managers for the IPO are IDBI Capital Markets & Securities Limited, HDFC Bank Limited, IFL Capital Services Limited (formerly known as IIFL Securities Limited) and Nuvama Wealth Management Limited.
The above price band, dates are yet to be officially announced by NTPC Green Energy. However, it needs to be noted that the Board of Directors of NTPC Green Energy is meeting on November 13, 2024, for the announcement of their forthcoming Initial Public Offering (IPO) on Wednesday.
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