One of the most awaited NTPC Green Energy Ltd's initial public offering (IPO) is poised to make its Dalal Street debut this week on Wednesday, November 27. The state-owned renewable energy giant is expected to finalise its shares allotment to the investors on Monday, November 25.
Successful bidders from the public issue can expect their shares to be credited to their demat accounts on Tuesday, November 26, ahead of its debut on the domestic stock market indices. If the investors do not receive a share allotment, the refund will be credited to them on the same day.
Investors who placed bids for the NTPC Green Energy IPO can check their share allotment status online on the KFin Technologies website. They can also check the share allotment status on the official websites of the BSE and the NSE.
On the final day of the bidding, the public offer was subscribed to 2.42 times. The retail investor segment was subscribed to 3.44 times, followed by the Qualified Institutional Buyers (QIBs), who subscribed to the public offer more than 3.3 times. The Non-Institutional Investor (NII) segment was booked 81 per cent, as of the Day 3 data collected from the Bombay Stock Exchange.
As of November 24, the grey market premium (GMP) for the public issue is at ₹3.5 per share. Considering the upper price band limit of the share at ₹108, the shares are expected to be listed on the domestic stock indices at ₹111.5 per share, a gain of 3.24 per cent, according to Investorgain.com.
Grey Market Premium (GMP) shows investors' willingness to pay more for a public issue. The public issue raised ₹3,960 crore through their anchor investors on Tuesday, November 19.
NTPC Green Energy Limited is a wholly-owned subsidiary of NTPC Ltd, the government-owned power generating company. The renewable energy generation firm specialises in completing projects using both organic and inorganic methods.
The company plans to use the money raised from the public issue to invest in its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL). NTPC Green Energy also plans to repay or prepay certain outstanding borrowings in full or in part and use the remaining for general corporate purposes.
The issue was open for public bidding from November 19 to November 22.
