The IPO of NTPC Green, a subsidiary of the government’s power generation giant NTPC, opens for subscription today. The company aims to raise ₹10,000 crore by issuing 92,59,25,926 new shares. The price band is set at ₹102-108 per share, with a face value of ₹10. Employees of NTPC Green will get a ₹5 discount per share.
This is a mainboard IPO, which will be listed on both major stock exchanges, BSE and NSE. The IPO is divided as follows: 75% of the shares are reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors.
IPO Details and Subscription Dates
The NTPC Green IPO, which opens on Tuesday, November 19, will close on Friday, November 22. The allotment of shares will be done on Monday, November 25, and shares will be credited to the demat accounts of investors on Tuesday, November 26. The company will be listed on the stock market on Wednesday, November 27.
Investment and Lot Details
In this IPO, one lot consists of 138 shares. Retail investors will need to invest ₹14,904 for one lot. They can apply for a maximum of 13 lots (1794 shares), requiring a total investment of ₹1,93,752.
Gray Market Premium (GMP) Update
As of Monday, November 18, at 8:00 PM, the GMP price of NTPC Green shares in the grey market was ₹0.70. In comparison, the shares were trading at a premium of ₹25 in the grey market earlier on November 9. Although there hasn’t been significant movement in the grey market yet, experts believe the GMP price may increase as the IPO subscription grows after the opening.
The NTPC Green IPO presents a promising opportunity for investors looking to invest in a government-backed green energy company. With the subscription opening on November 19 and closing on November 22, investors have a limited window to participate. The allotment process will take place shortly after, with shares credited to demat accounts on November 26, and the official listing on the stock market on November 27.