NTPC Green Energy to allot shares tomorrow: How to check
Indian government-owned renewable energy company NTPC Green Energy will finalize its share allotment tomorrow. The shares will be credited to the demat accounts of the successful bidders, before the company makes its debut on Dalal Street on Wednesday. Investors who do not receive a share allotment will be refunded on the same day.
Checking allotment status and subscription details
Investors can check their stock allotment status for the NTPC Green Energy IPO online on KFin Technologies's website, as well as on the official websites of BSE and NSE. The public offer was subscribed 2.42 times on its final day of bidding, with retail investors subscribing 3.44 times and Qualified Institutional Buyers (QIBs) subscribing over 3.3 times.
IPO details and gray market premium
The gray market premium (GMP) for the public issue stands at ₹3.5 per share at the moment, showing investors' willingness to pay more for a public issue. The stocks are expected to be listed on the domestic stock indices at ₹111.5 per share, a gain of 3.24%. The public issue raised ₹3,960 crore through anchor investors on November 19.
Future plans and IPO subscription
NTPC Green Energy, a wholly-owned subsidiary of NTPC Ltd, intends to utilize the proceeds raised from this public issue for investment in its subsidiary, NTPC Renewable Energy Limited (NREL). The company also plans to repay/prepay certain outstanding borrowings in full/part and use the balance for general corporate purposes. The IPO was open for public bidding from November 19-22 and was 92% subscribed on its second day.
A closer look at the details
The NTPC Green Energy IPO is a ₹10,000 crore book-built issue. It is entirely a fresh issue of 92.59 crore stocks with the price band fixed at ₹102-108 per share. Retail investors can apply for a minimum of 138 shares, which would require an investment of ₹14,904. IDBI Capital Market Services, HDFC Bank, IIFL Securities and Nuvama Wealth Management are the managers of this IPO.
