NTPC Green Energy share price tanks 6% as one-month lock-in period for IPO anchor investors ends

NTPC Green Energy share price declined nearly 6% in early trade on Thursday after the one-month lock-in period for the company’s anchor investors expired today. NTPC Green Energy shares plunged as much as 5.93% to ₹125.20 apiece on the BSE.

NTPC Green Energy shares were listed on Indian stock exchanges on November 29. The lock-in period for 50% shares held by anchor investors ended today. Thus, as many as 1.83 crore NTPC Green Energy shares, or a 2% stake in the company, became eligible for trade.

However, the end of a lock-in period signifies that the shares will become eligible to be traded and does not mean that all the shares will be sold.

NTPC Green Energy shares made a muted stock market debut on November 27 as the stock was listed at ₹111.5 apiece on NSE, a premium of just 3.2% over the issue price of ₹108 per share. On BSE, NTPC Green Energy shares were listed with a 3.33% premium at ₹111.60.

The renewable energy stock is up more than 23% from its issue price and up over 19% from its listing price.

NTPC Green Energy IPO

The initial public offering (IPO) of NTPC Green Energy was open for subscription from November 19 to November 22. The company raised ₹10,000 crore from the IPO at a price band of ₹102-108 per share. The IPO was entirely a fresh issue of equity shares with no offer-for-sale (OFS) component.

The company had raised ₹3,960 crore from anchor investors on November 18, ahead of the issue opening. NTPC Green IPO received robust demand, garnering 2.55 times subscription. The IPO received bids for 142.65 crore shares against 56 crore shares on offer.

At 9:45 AM, NTPC Green Energy shares were trading 5.71% lower at ₹125.50 apiece on the BSE, commanding a market capitalisation of more than ₹1.05 lakh crore.

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