Tue Nov 19 06:55:07 UTC 2024: ## NTPC Green Energy Raises ₹3,960 Crore in Anchor Investor Round Ahead of IPO

**MUMBAI, INDIA** – NTPC Green Energy Ltd. (NGEL) successfully raised ₹3,960 crore (approximately $475 million USD) from anchor investors ahead of its initial public offering (IPO), which opens Tuesday. The company allotted 36.66 crore shares at ₹108 apiece to 107 anchor investors, according to an exchange filing.

Life Insurance Corporation of India (LIC) was the largest investor, committing ₹500 crore for a 12.63% stake. Other significant investors included Goldman Sachs India (₹226 crore, 5.7%), the Government of Singapore (₹210 crore, 5.31%), and Capital Group’s New World Fund Inc. (₹209 crore, 5.29%). Domestic mutual funds, including ICICI Prudential, Nippon Life India, Kotak Mahindra, and Invesco India, collectively invested ₹1,570 crore (39.65% of the anchor portion).

The ₹10,000 crore IPO, managed by IDBI Capital, HDFC Bank, IIFL Capital, and Nuvama Wealth Management, will be one of India’s largest this year, following Hyundai Motor India and Swiggy. The price band is set at ₹102-₹108 per share, valuing the company at ₹91,000 crore at the upper end. The IPO allocation is 75% for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors, with a bidding limit of ₹2 lakh, or ₹4 lakh for NTPC shareholders.

NGEL plans to use 75% of the IPO proceeds (₹7,500 crore) to repay debt, with ₹4,000 crore earmarked for the current fiscal year and ₹3,500 crore for the next.

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