NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, is set to launch its Initial Public Offering (IPO) with an issue size of ₹10,000 crore. The IPO, which opens for subscription on November 19, 2024, and closes on November 22, 2024, is entirely a fresh issue comprising 92.59 crore shares.
Key IPO Details
- Price Band: The price per share has been set between ₹102 and ₹108.
- Face Value: ₹10 per share.
- Lot Size: 138 shares per lot.
- Total Issue Size: ₹10,000 crore.
- Employee Discount: ₹5 per share.
- IPO Listing: The shares are expected to be listed on both BSE and NSE, with the tentative listing date scheduled for November 27, 2024.
Tentative Timeline
- IPO Open Date: November 19, 2024
- IPO Close Date: November 22, 2024
- Basis of Allotment: November 25, 2024
- Initiation of Refunds: November 26, 2024
- Credit of Shares to Demat: November 26, 2024
- Listing Date: November 27, 2024
Investment Requirements
- Retail Investors: Minimum investment for retail investors is ₹14,904 for 1 lot (138 shares).
- Small High Net-worth Individuals (S-HNI): Minimum investment is ₹208,656 for 14 lots (1,932 shares).
- Big High Net-worth Individuals (B-HNI): Minimum investment is ₹1,013,472 for 68 lots (9,384 shares).
Promoters and Business Focus
The President of India, through the Ministry of Power, Government of India, along with NTPC Limited, is the promoter of NTPC Green Energy Limited. Incorporated in April 2022, NTPC Green focuses on renewable energy, with projects spanning solar and wind across multiple states.
As of August 2024, the company has an operational capacity of 3,071 MW from solar and 100 MW from wind projects. Its portfolio as of June 2024 includes a total capacity of 14,696 MW, with 2,925 MW already operational and 11,771 MW in contracted or awarded projects.
Book Running Lead Managers
The IPO is being managed by IDBI Capital Market Services Limited, HDFC Bank Limited, IIFL Securities Ltd, and Nuvama Wealth Management Limited, with Kfin Technologies Limited as the registrar.
NTPC Green Energy IPO offers an opportunity for investors to participate in India’s growing renewable energy sector. With its strong backing by NTPC Limited and an extensive portfolio of renewable projects, the IPO has generated significant interest. However, it’s noted that the Grey Market Premium (GMP) dropped to 2% following the price band announcement, reflecting some market skepticism.
Investors are advised to refer to the NTPC Green Energy IPO RHP for comprehensive details on the offering and the company’s business prospects.
