NTPC Green Energy IPO Listing: Debut on Dalal Street, GMP, Price, and Analysis
Introduction
The highly-awaited NTPC Green Energy IPO has hit the Indian stock market. Trading in the shares of NTPC Green Energy Ltd began on November 27 at BSE and NSE. The IPO ended on November 22 but was widely subscribed by retail investors. Still, the grey market premium indicated a dull listing.
IPO Details
The NTPC Green Energy IPO was a ₹10,000 crore public issue. The price band had been fixed at ₹102 to ₹108 per equity share. One could place bids for a minimum of 138 shares and in multiples of the same. The issue would open for subscription on November 19 and close on November 22.
Subscription Status
The IPO saw robust demand from retail investors. According to the market data, the issue was subscribed 2.42 times in all. The retail portion witnessed severe oversubscription indicating great interest from the end retail investors.
Allotment and Listing
The allotment of shares for the NTPC Green Energy IPO was finally closed after the closure of the issue. Investors can check out their allotment status by visiting the official websites of the BSE, NSE, or Kfin Technologies, which is the registrar for the issue. The shares got listed on November 27.
Grey Market Premium and Listing Expectations
The grey market premium for shares of NTPC Green Energy was about ₹1.85 before listing, giving a possible listing price close to ₹110 per equity share. The listing turned out to be positive for the company, but the premiums were quite subdued compared to several other recent IPOs. Market analysts continued to be confident about the long-term prospects for the company but expected a more subdued listing gain.
Company Profile
NTPC Green Energy Ltd. is a subsidiary of the state-owned power giant NTPC Ltd. The company has been incorporated to concentrate on the renewable energy segment with an aim to set up and operate green energy projects in India. IPO funds will be used for financing the growth plans and building the renewable energy portfolio of the company.
Analyst Recommendations
Several brokerage firms and analysts had provided their recommendations on the NTPC Green Energy IPO. While some advised investors to “Subscribe” to the issue, citing the company’s strong parentage and growth potential, others had a more cautious stance, recommending investors to “Avoid” the IPO due to valuation concerns.
Conclusion
The listing of NTPC Green Energy IPO marks a significant milestone for the company and the Indian renewable energy sector. Though the listing gains may be muted, the long-term prospects for the company remain promising. Investors should keep a close eye on the company’s performance and the overall growth of the green energy sector in India.
