NTPC Green’s IPO was subscribed 93 per cent on the second day of bidding on Thursday, receiving bids for 54,96,35,370 shares against 59,31,67,575 shares on offer, according to the NSE data.
The portion reserved for retail individual investors (RIIs) was subscribed 2.38 times, while the qualified institutional buyers (QIBs) segment saw a 75 per cent subscription. The non-institutional investor portion received a 34 per cent subscription. Earlier, the renewable wing of NTPC, raised Rs 3,960 crore from anchor investors.
The Rs 10,000-crore initial share sale consists entirely of new equity shares, with no offer-for-sale (OFS) component. The issue is priced in a range of Rs 102-108 per share.
The Rs 7,500 crore raised from the IPO will be used to pay off some or all loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), while the remaining amount will be utilized for general corporate purposes.
NTPC Green Energy is a public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd, and Nuvama Wealth Management are acting as the book-running lead managers for the issue.