Ahead of its initial public offering (IPO), which begins on Tuesday, NTPC Green Energy Ltd., which is promoted by NTPC Ltd., has raised Rs. 3,960 crore from anchor investors.On November 18, the business notified the exchanges that it had distributed 36.66 crore equity shares to anchor investors at a price of Rs.108 each. Capital World, Goldman Sachs, GIC, T. Rowe Price, Abu Dhabi Investment Authority, Morgan Stanley, and Allianz Global are among the foreign institutions that took part in the anchor round. Life Insurance Corporation of India, ICICI Prudential Mutual Fund, Nippon Life India MF, Kotak MF, Aditya Birla Sun Life MF, DSP MF, White Oak, Baroda BNP MF, Canara Robeco MF, and Edelweiss MF are among the domestic institutions that took part in the anchor. With a face value of Rs.10 per equity share, the issue is made of approximately 92 crore shares.
Investors can purchase 138 shares in a single lot and then in multiples when the business sets the pricing range at Rs.102–108 per share. The company’s shares were trading on the unlisted market with a GMP of Rs. 0.70 prior to the issue launching. This suggests a 0.65% marginal premium above the issue price.Institutional investors will receive 75% of the issue from NTPC Green, while non-institutional investors will receive 15% and individual investors will receive the remaining 10%. Eligible employees can bid for shares with a Rs.5 per share discount, with Rs.200 crore worth of shares allocated under the employee quota. Furthermore, under the shareholder reservation, shares valued at Rs. 1,000 crore will be reserved for current NTPC owners.
Since the company is being marketed by NTPC Ltd., which has long-standing contacts with suppliers and offtakers, financial strength, and considerable experience in completing large-scale projects, the majority of analysts have given this IPO a “Subscribe” rating. With the exception of hydro, NTPC Green Energy is the biggest renewable energy public sector company in terms of operating capacity. It is a fully owned subsidiary of NTPC Ltd.Sales of renewable energy made up 96.17% of total sales in FY24.
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