NTPC Green Energy IPO subscribed 2.40 times

    New Delhi, Nov 22 (PTI) The initial public offering of NTPC Green Energy Ltd, the renewable energy arm of NTPC, subscribed 2.40 times on the closing day of the share sale on Friday.
    The Rs 10,000-crore share sale received bids for 1,42,65,07,242 shares against 59,31,67,575 shares on offer, translating into 2.40 times subscription, as per NSE data.
    The portion for retail individual investors (RIIs) subscribed 3.39 times. The quota for qualified institutional buyers (QIBs) fetched 3.32 times the subscription, while the non-institutional investors part got subscribed 81 per cent.
    NTPC Green Energy has mobilised Rs 3,960 crore from anchor investors.
    The initial share sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component. The issue has a price band of Rs 102-108 per share.
    Proceeds from the IPO, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes.
    NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
    IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services Ltd (formerly known as IIFL Securities Ltd) and Nuvama Wealth Management are the book-running lead managers to the issue.

(This story has not been edited by THE WEEK and is auto-generated from PTI)