NTPC Green Energy IPO: Will Rs 10,000 Cr IPO File RHP On Nov 11? Dates, Price, GMP, Allotment, Listing Details

NTPC Green Energy IPO: The red herring prospectus of Rs 10,000 crore worth of IPO of this green energy giant is expected to be filed on Monday, November 11, 2024. As per reports, investors who held shares of NTPC by last Friday are likely to be eligible investors to participate in the shareholder quote of NTPC Green Energy.

Maharatna PSU giant, NTPC is the parent company of NTPC Green Energy. Speculations are that the IPO could be launched by November 18 or anytime in the next few days.

NTPC Green Energy IPO Analysis:

As per discount brokerage firm, Alice Blue, NTPC Green Energy Limited's financial analysis reveals a mixed performance. Revenue has declined year-over-year while equity and liabilities grew. Profitability, EPS, and RoNW decreased, though asset growth indicates potential expansion in business operations.

Compared to its peers, Alice Blue's note on its website said that NTPC Green Energy, Adani Green Energy, and ReNew Energy Global show varied financial metrics, with NTPC having the lowest price-to-book and earnings per share. Adani leads in price-to-book ratio, while ReNew has the highest price-to-earnings.

Data from the brokerage showed that the return on net worth is 5.53% in NTPC Green, while it is higher at 12.81% in Adani Green, but lowest at 3.94% in ReNew Energy Global. Net asset value per share for NTPC Green is at Rs 10.90, the lowest compared to Adani Green at Rs 62.08, and ReNew at Rs 290.15.

NTPC Green Energy IPO Dates:

Market regulator Sebi has approved NTPC Green Energy IPO. Hence, the majority of them are expecting the mega IPO to open in November month. However, the broker Antique Stock Broking predicts the IPO to open anytime between the October - and December quarters of FY25.

Antique's latest note said, the NTPC Green Renewable (NGEL) IPO is in progress and is expected to conclude in 3QFY25E. NGEL is expected to add 3 GW in FY25E; in 1HFY25 it has added 0.4 GW. The catalyst for the stock is capacity commissioning in thermal & renewables and the valuation benchmark of NGEL in the IPO.

Nonetheless, new media reports are stating that NTPC Green Energy IPO is likely to file for a red herring prospectus on Monday, November 11. Other media reports state that the IPO will open on November 18.

According to the News18 media report, NTPC Green Energy IPO is likely to file RHP on Monday, November 11. Eventually, those who bought NTPC shares till Friday, November 8, 2024, will be considered to be eligible investors for the shareholder quota.

On the other hand, sources related to the matter told Business Today, that NTPC Green IPO is likely to open on the third week of November, which would be around November 18. These sources also told the news agency that NTPC Green's RHP is expected to be filed this week.

GoodReturns could not confirm the media reports on the matter. Also, official announcements are yet to be made. Hence, NTPC Green Energy IPO's key dates will be on the lookout.

NTPC Green Energy IPO Shareholder Quota:

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.

NTPC Green Energy IPO Price Band:

Brokerage ICICI Direct on its website has stated that the price band is likely to be in the range of INR 100-120 per share, depending on market conditions at the time of the listing.

NTPC Green Energy filed its draft prospectus on September 18, 2024. Sebi has approved the IPO following this. The public offer is purely a fresh issue worth Rs 10,000 crore.

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 IPO GMP Today:

As per IPO Watch, currently, its grey market premium (GMP) is at Rs 24, unchanged from the previous session. While the Kostak rates is at Rs 500 for the IPO.

What is grey market premium? According to Angel One's website, grey Market Premium (GMP) is a good way to gauge the market sentiment for an Initial Public Offering (IPO) before it's listed on the stock exchange. IPO GMP refers to the difference between the price at which shares are traded in the grey market and the issue price set by the company.

NTPC Green Energy IPO Listing:

After the IPO, the other processes are allotment of shares, initiation of refunds, credit of equity shares, and listing. Proposed equity shares will be listed on BSE and NSE.