NTPC Green Energy shares listed at 3% premium

27 Nov 2024 , 09:53 AM

The shares of NTPC Green Energy list at a premium of 3%. The shares get listed at ₹111.50 on NSE, 3.24% up from the issue price of ₹108 and at ₹111.60 on BSE, 3.33% up.

The IPO of NTPC Green Energy, a Delhi-based renewable energy company, was open for bidding from November 19 to 22. The company raised ₹10,000 crore through a fresh issue of 92.59 crore equity shares. The company has fixed the price range of ₹102-108 per share, with a lot size of 138 shares.

The IPO saw 2.42 times subscription overall. The portion for qualified institutional bidders (QIBs) was subscribed 3.32 times, while retail investors booked their allocation 3.44 times. The employee quota saw a 0.80% subscription. However, the non-institutional investors’ (NIIs) portion fell short, being subscribed at only 81%.

Incorporated in April 2022, NTPC Green Energy is promoted by NTPC Ltd under the Ministry of Power. The company focuses on renewable energy projects through organic and inorganic expansions. As of August 31, 2024, it had an operational capacity of 3,071 MW from solar energy and 100 MW from wind energy, spread across six states.

On Tuesday, NTPC has created a 50:50 JV with Maharashtra State Power Generation Company Ltd to develop, operate and maintain renewable energy parks in the state.