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NTPC Green Energy IPO Day 2: GMP, Subscription Status And Should You Apply?

Grey Market Premium (GMP) of NTPC Green Energy IPO stands at Rs 0.80 today. This suggests that the shares are commanding a Rs 0.80 premium in the grey market.

Defying current IPO fatigue, NTPC Green Energy’s initial public offering (IPO) drew swift interest from retail investors, with the segment filling up completely within hours of opening. This IPO is expected to conclude successfully by Friday, November 22, the final day of bidding. NTPC Green Energy, the renewable energy arm of NTPC, launched its initial public offering (IPO) for public subscription on Tuesday, November 19. Before the IPO, the company had raised ₹3,960 crore from anchor investors.

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Meanwhile, the Rs 10,000 crore NTPC Green Energy IPO comprises entirely of fresh equity shares, with no share sale component. Additionally, The IPO price range is Rs 102-108 per share, with a minimum investment requirement of Rs 14,904 for retail investors, comprising 138 shares. NTPC Green Energy will reportedly debut on the BSE and NSE on November 27.

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NTPC Green Energy IPO: Subscription Status

As of 1:27 PM on the second day of bidding, NTPC Green Energy’s initial public offering (IPO) had reached 85% subscription overall, with the retail portion oversubscribed by 2.12 times, while the Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) segments lagged behind at 0.27 times and 0.74 times subscription, respectively.

Should You Apply?

Indsec Securities: The brokerage has assigned a “Subscribe for Long-Term” rating to the IPO, indicating its potential for long-term returns.

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SBICAP Securities: The brokerage recommends subscribing to the issue at the cut-off price, anticipating long-term benefits.

GMP

As per investorgain.com, the Grey Market Premium (GMP) of this IPO stands at Rs 0.80 today. This suggests that the shares are commanding a Rs 0.80 premium in the grey market. Based on the IPO’s upper price band and grey market premium, the shares of the company are likely to list at Rs 108.8, representing a 0.74% gain over the IPO price, said media reports.

ALSO READ: NTPC Green Energy IPO: Which Quota Boost Allotment Chances? Check Details Here

ABOUT THE AUTHOR

Akshat Mittal

Akshat Mittal

Akshat Mittal is a journalist with over 6 years of experience, focusing on business, technology, and the auto industry. He has covered key developments in these areas, helping readers stay up-to-date with the latest trends. Akshat holds a degree in Journalism from NIU and has worked with well-known media outlets like Inshorts and Legacy India Magazine. Before joining News24, he wrote business and political stories for several newspapers and magazines, contributing editorial and analytical pieces. At News24, all of Akshat’s articles go through a thorough fact-checking process to ensure accuracy. His commitment to delivering reliable information has made him a trusted source for readers. Outside of work, Akshat enjoys reading, writing, traveling, and following the latest in cars. You can connect with him on Twitter (@mittalakshat1) for updates or on LinkedIn for professional conversations.

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First published on: Nov 21, 2024 02:13 PM IST


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