• Source:JND
Add as a preferred

NTPC Green Share Price:  After a muted debut with just a 3% premium, the NTPC Green Energy shares surged another 10% to hit the upper circuit during intraday trade on Wednesday. NTPC Green shares started to trade on NSE at Rs 111.50, up 3.2 per cent against the IPO price of Rs 108 at 10:00 am and in the next two hours, NTPC share price soared to hit the upper circuit at Rs 122.65, up 13.56% or 14.65 rupees. 

Earlier this morning, NTPC Green Energy shares made a tepid debut on the stock exchanges on Wednesday, November 27. On the NSE, the share price of NTPC made debut at Rs 111.50, with a small premium of 3.2 per cent, whereas on the BSE, the share price of NTPC Green Energy listed at Rs 111.60, with a 3.33 per cent increase. The share price of NTPC Green Energy was in line with initial expectations, as analysts anticipated a lower price and GMP was also recommending a flat price.

The IPO was open for subscription between November 19 and 22, and during that time it was subscribed 240 per cent or 2.40 times. The bidding started a day before, and NTPC’s green energy arm raised Rs 3,960 crore from anchor investors. The IPO of NTPC Green Energy was a completely new issue and did not have any offer for sale (OFS) component. The company had set a price band of Rs 102 to Rs 108 per share for its initial share sale.

Also Read: NTPC Green Energy Share Price Makes Muted Debut; Shares List At Rs 111.50 On NSE, Up 3.2%

NTPC Green Subscription Rate

During the three-day bidding period, NTPC Green Energy's IPO was subscribed 2.40 times or 240 per cent. The portion reserved for retail individual investors (RIIs) was subscribed 3.38 times or 338 per cent. Furthermore, the portion reserved for qualified institutional buyers (QIBs) received 3.32 times or 332 per cent bids. However, the portion reserved for non-institutional investors did not receive a full subscription as it was subscribed 0.81 times or 81 per cent. A total of 1,42,46,53,902 shares were bid for at the mentioned time, whereas 59,31,67,575 shares were offered for the share sale worth Rs 10,000 crore.

The Rs 7,500 crore raised in the IPO will be used to repay or prepay outstanding loans of its subsidiary, NTPC Renewable Energy Limited (NREL), in full or in part, and a portion will be used for general corporate purposes.

NTPC Green Energy is a 'Maharatna' central public sector undertaking with a renewable energy portfolio that includes solar and wind energy assets.

Also Read: Reliance Power Share Price: Stock Surges Over 3% After Delhi HC Stays SECI Ban