NTPC Green Energy IPO subscribed 93% on day 2 of issue, retail investors bid highest; Latest GMP here | Stock Market News

NTPC Green Energy IPO subscribed 93% on day 2 of issue, retail investors bid highest. On Day 2, retail investors subscribed to the issue 2.38 times the shares offered. The qualified institutional buyers (QIBs) followed the retail investors, coming at 75% of the shares available. The Non-Institutional Investors (NIIs) portion was booked for 34% of the shares offered.

The Non-Institutional Investors (NII) segment accounted for 16% of the shares available for subscription, whereas the qualified institutional buyers (QIBs) segment did not receive any bids on the initial day. The employee portion was subscribed 17%, while the shareholder portion was booked 57%.

The initial public offering, valued at ₹10,000 crore, comprises entirely of new equity shares, with no segment designated for an offer-for-sale (OFS). Investors have the opportunity to subscribe to this offering, which has established a price range of ₹102 to ₹108 per share, from November 19 to November 22. Out of the total proceeds from the IPO, which amount to ₹7,500 crore, a substantial portion will be allocated to the repayment or prepayment of some or all outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), while a portion will also be reserved for general corporate purposes.