NTPC Green Energy IPO day 1: GMP, subscription status, review, other details. Should you apply?

NTPC Green Energy IPO: The initial public offering (IPO) of NTPC Green Energy Limited has hit the Indian primary market today. The public issue will remain open until 22nd November 2024. The wholly-owned subsidiary of NTPC Limited has declared the NPTC Green Energy IPO price band to be ₹102 to ₹108 per equity share. The company aims to raise ₹10,000 crore by issuing fresh shares. Meanwhile, after the announcement of NPTC Green Energy's IPO details on Thursday, NPTC Green Energy's shares debuted in the grey market. According to stock market observers, NPTC Green Energy Limited shares are available at a premium of ₹3 in the grey market today.

Important NTPC Green Energy IPO dates

NTPC Green Energy IPO will remain open until Friday this week. NTPC Green Energy IPO allotment date is most likely on 23rd November 2024. In case of any delay, NTPC Green Energy IPO allotment can be expected on 25th November 2024. Credit of shares into an allottees demat account is expected on 26th November 2024. NTPC Green Energy IPO listing date is most likely on 27th November 2024 i.e. on Wednesday next week.

NTPC Green Energy IPO subscription status

By 3:54 PM on day 1 of bidding, the public issue had been subscribed 0.31 times, the retail portion of the book build issue had been booked 1.26 times, whereas the NII segment had been subscribed 0.13 times. 

NTPC Green Energy IPO details

1] NTPC Green Energy IPO GMP today: According to stock market observers, NTPC Green Energy Limited shares are available at a premium of ₹3 in the grey market today.

2] NTPC Green Energy IPO price band: The wholly-owned subsidiary of NTPC Limited has declared the price band of the public issue at ₹102 to ₹108 per equity share. Applicants applying under the employee's category will be given a ₹5 per share discount.

3] NTPC Green Energy IPO date: The book build issue will open on November 19th, 2024, and remain open for bidders until November 22nd, 2024.

4] NTPC Green Energy IPO size: The company aims to raise ₹10,000 crore from this fresh initial offer.

5] NTPC Green Energy IPO lot size: A bidder can apply in lots, and one lot of the book build issue comprises 138 company shares.

6] NTPC Green Energy IPO allotment date: The most likely date for share allocation is Saturday, November 23rd, 2024. In case of a delay in the announcement of share allotment, applicants can expect the NTPC Green Energy IPO allotment date on Monday, November 25th, 2024 week.

7] NTPC Green Energy IPO registrar: KFin Technologies has been appointed official registrar of the book build issue.

8] NTPC Green Energy IPO Lead Managers: IDBI Capital Market Services, HDFC Bank, IIFL Securities, and Nuvama Wealth Management have been appointed Lead Managers of the public issue.

9] NTPC Green Energy IPO listing date: The public issue is proposed for listing on the BSE and the NSE. The most likely date of share listing is 27th November 2024.

NTPC Green Energy IPO: Apply or not?

10] NTPC Green Energy IPO review: Giving a 'subscribe' tag to the book build issue, Manish Chowdhury, Head of Research, StoxBox, said, "The company is valued at a PE ratio of 147.95 on the upper price band based on FY24 earnings, which is reasonable compared to its peers. Given its strategic development and strong financial growth, the company is well-positioned to capitalize on growth opportunities in the renewable energy sector. Therefore, we recommend a "SUBSCRIBE" rating for medium to long-term investment."

Mahesh M Ojha, AVP — Research at Hensex Securities, said, "NTPC Green Energy Ltd is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 2024 and power generation in FY24.With strong parent support and a diversified portfolio with long-term PPA locked in for an average age of25 years, The company is strategically focused on developing a portfolio of utility-scale solar energy projects and utility-scale wind energy projects, as well as projects for PSUs and corporates. The company's revenue from operations has grown at a CAGR of 46.82% from ₹910.42 Cr in FY 2022 to ₹1,962.60 Cr in FY 2024. The company invests in hydrogen, green chemical and battery storage capabilities, solutions, and associated technologies. NTPC GEL holds a vision of 60 GW RE capacity by 2032. We suggest 'SUBSCRIBE' to the issue from a long-term investment perspective."

Adroit Financial Services, Anand Rathi, Arete Securities, Arihant Capital Markets, BP Equities, Canara Bank Securities, Cholamandalam Securities, Marwadi Shares and Finance, Mehta Equities, Reliance Securities, SBICAP Securities, and Ventura Securities have also assigned the NTPC Green Energy IPO a 'buy' tag.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.