The initial public offering (IPO) of NTPC Green Energy, a government-owned entity, began on Tuesday, November 19, and is set to close today, November 22. By the end of the second day of subscription, the IPO was subscribed 93%, with retail investors subscribing to 2.38 times the shares on offer. On the final day of subscription, the IPO was subscribed 1.32 times as of 1:30 PM, according to data from the Bombay Stock Exchange (BSE).
As per BSE, the share sale received bids for 78,50,08,032 shares against the 59,31,67,575 shares available. The portion reserved for qualified institutional buyers (QIBs) was subscribed 1.28 times, while the non-institutional investors (NIIs) category saw a subscription of 34% as of now.
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The IPO is valued at Rs 10,000 crore and includes the fresh issue of equity shares. Notably, there is no segment designated for an offer for sale (OFS). NTPC Green Energy, a central public sector enterprise with 'Maharatna' status, focuses on renewable energy projects, particularly in solar and wind power, across more than six states.
According to Arun Kejriwal, founder of Kejriwal Research and Investment Services, the IPO’s valuation appears expensive. He advised against applying for short-term listing gains, stating, "Those looking for long-term investments should wait for the stock to list, as it is likely to become available at a cheaper price than the issue rate."