NTPC Green Energy, a subsidiary of NTPC, has set its IPO price range between Rs 102 and Rs 108 per share, aiming to raise approximately 100 billion rupees ($1.2 billion). This IPO is set to open for public bids from November 19 to November 22, with anchor investors bidding on November 18.
Highlights of NTPC Green IPO
- Price Band: Rs 102-108 per share
- Total IPO Size: 100 billion rupees ($1.2 billion)
- Bid Dates: November 19-22 (Anchor investors: November 18)
IPO Strategy and Market Context
The funds raised will support NTPC Renewable Energy in repaying debts and expanding renewable energy projects. The IPO comes at a time when India is focused on boosting renewable energy capacity to meet its 2030 clean energy targets.
IPO Market Outlook
India’s IPO market has seen a mix of high expectations and cautious investor sentiment this year. Recent large IPOs from Hyundai Motor India and Swiggy saw lukewarm responses, influenced by the Nifty 50’s recent 9% dip from its September highs due to foreign fund outflows and earnings pressures.
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Source: BS
News Desk
