Though nothing has been officially announced, the rather dull IPO market in November after a blockbuster October could be lit up by NTPC Green IPO, which has been in the news for some time. NTPC shares were listed 20 years ago in November 2004. According to reports, those who hold shares of NTPC before the red herring prospectus of for NTPC Green IPO is made public could apply for a special quota of shares of the company going public. Will there be a NTPC Green IPO shareholder quota, is the question being asked. So, to boost their chances of getting shares of NTPC Green, one can consider buying shares of its parent NTPC, which is a Maharatna company.
According to reports, about 10% of the shares will be earmarked for bidding by retail investors, while 75% of the net offer will be kept for qualified institutional investors. Non-institutional investors could have 15% of the shares earmarked for them.
When is the NTPC IPO coming?
Though dates for the NTPC IPO are yet to be announced, there are reports that it could hit the market in the third week of November. Earlier, it was reported that it could come in the first week of November.
What is the price band of NTPC Green Energy IPO?
Nothing has been announced as yet. However, major brokerage firm ICICI Direct has reportedly written that an equity share of NTPC Green could be priced between 100-120, though these issues depend on the mood on D Street at the time of the float. Significantly, the NTPC share price was around Rs 397.05 at midday of Friday, November 8 after declining Rs 6.75 or 1.67%, during the day. It 52-week high is Rs 448.45 and 52-week low is Rs 235.80. According to investorgain, the GMP data sheet is still showing 0 (Nil). It is likely that it can take off in either direction only after dates and price bands are officially announced.
NTPC Green IPO lead managers
The lead managers to the issue are IDBI Capital Markets & Securities, HDFC Bank, IFL Securities, and Nuvama Wealth Management, while KFin Technologies will be the registrars to the issue.
NTPC Green is a 100% subsidiary of the NTPC. The company was incorporated in April 2022. Though the Securities and Exchange Board of India (SEBI) approved the IPO of the renewable power business arm of NTPC, the details of the issue are yet to be officially announced. But the market is agog with excitement since this issue will be one of the biggest IPOs in 2024.
(This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO or mutual funds.)
The NTPC Green IPO is one of the most eagerly awaited issues in India simply because of the significance of its parent NTPC, a Maharatna company, and the fact the company has ambitious renewable energy plans. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
