NTPC Green Energy IPO: shares jump 3% as NTPC Green Energy’s IPO opens today

NTPC Green Energy IPO | Shares of state-owned NTPC jumped 2.8% to their day’s high of Rs 376.90 on the BSE today as the company’s arm NTPC Green Energy’s initial public offering (IPO) opens for public subscription today.

The said IPO will close its subscription on November 22.

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NTPC Green Energy raised Rs 3,960 crore from anchor investors ahead of the IPO’s opening on Monday, November 18, allocating 36,66,66,666 (36.67 crore) equity shares at a price of RS. 108 per share to the anchor investors.

The company aims to raise ₹10,000 crore by issuing fresh shares. Meanwhile, after the announcement of NPTC Green Energy’s IPO details on Thursday, NPTC Green Energy’s shares debuted in the grey market. According to stock market observers, NPTC Green Energy Limited shares are available at a premium of ₹3 in the grey market today.

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NTPC Green Energy IPO details:

NTPC Green Energy IPO GMP today: According to stock market observers, NTPC Green Energy Limited shares are available at a premium of ₹3 in the grey market today.

NTPC Green Energy IPO price band: The wholly-owned subsidiary of NTPC Limited has declared the price band of the public issue at ₹102 to ₹108 per equity share. Applicants applying under the employee’s category will be given a ₹5 per share discount.

NTPC Green Energy IPO date: The book build issue will open on November 19th, 2024, and remain open for bidders until November 22nd, 2024.

NTPC Green Energy IPO size: The company aims to raise ₹10,000 crore from this fresh initial offer.

NTPC Green Energy IPO lot size: A bidder can apply in lots, and one lot of the book build issue comprises 138 company shares.

NTPC Green Energy IPO allotment date: The most likely date for share allocation is Saturday, November 23rd, 2024. In case of a delay in the announcement of share allotment, applicants can expect the NTPC Green Energy IPO allotment date on Monday, November 25th, 2024 week.

NTPC Green Energy IPO registrar: KFin Technologies has been appointed official registrar of the book build issue.

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NTPC Green Energy IPO Lead Managers: IDBI Capital Market Services, HDFC Bank, IIFL Securities, and Nuvama Wealth Management have been appointed Lead Managers of the public issue.

NTPC Green Energy IPO listing date: The public issue is proposed for listing on the BSE and the NSE. The most likely date of share listing is 27th November 2024.

NTPC Green Energy IPO: Apply or not?

NTPC Green Energy IPO review: Giving a ‘subscribe’ tag to the book build issue, Manish Chowdhury, Head of Research, StoxBox, said, “The company is valued at a PE ratio of 147.95 on the upper price band based on FY24 earnings, which is reasonable compared to its peers. Given its strategic development and strong financial growth, the company is well-positioned to capitalize on growth opportunities in the renewable energy sector. Therefore, we recommend a “SUBSCRIBE” rating for medium to long-term investment.”

NTPC Green Energy Ltd

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Mahesh M Ojha, AVP — Research at Hensex Securities, said, “NTPC Green Energy Ltd is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 2024 and power generation in FY24.With strong parent support and a diversified portfolio with long-term PPA locked in for an average age of 25 years.

The company is strategically focused on developing a portfolio of utility-scale solar energy projects and utility-scale wind energy projects, as well as projects for PSUs and corporates. The company’s revenue from operations has grown at a CAGR of 46.82% from ₹910.42 Cr in FY 2022 to ₹1,962.60 Cr in FY 2024.

The company invests in hydrogen, green chemical and battery storage capabilities, solutions, and associated technologies. NTPC GEL holds a vision of 60 GW RE capacity by 2032. We suggest ‘SUBSCRIBE’ to the issue from a long-term investment perspective.”

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Adroit Financial Services, Anand Rathi, Arete Securities, Arihant Capital Markets, BP Equities, Canara Bank Securities, Cholamandalam Securities, Marwadi Shares and Finance, Mehta Equities, Reliance Securities, SBICAP Securities, and Ventura Securities have also assigned the NTPC Green Energy IPO a ‘buy’ tag.

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Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of INDTODAY. We advise investors to check with certified experts before taking any investment decisions.

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