Tue Nov 19 07:34:03 UTC 2024: ## NTPC Green Energy IPO Opens, Receives Tepid Initial Response

**New Delhi, November 19, 2024** – NTPC Green Energy Limited’s initial public offering (IPO) opened today, aiming to raise ₹10,000 crore through the sale of new shares. The IPO, which will remain open until November 22, is priced between ₹102 and ₹108 per share, with a ₹5 discount for employees.

Early indications suggest a subdued response. By 11:00 AM on the first day, the IPO was subscribed only 0.11 times overall. While the retail segment showed slightly better traction at 0.46 times subscription, the Non-Institutional Investor (NII) segment was subscribed a mere 0.04 times. However, the grey market premium (GMP) stands at ₹3, suggesting some positive investor sentiment.

NTPC Green Energy, a wholly-owned subsidiary of NTPC Limited, is India’s largest renewable energy PSU (excluding hydro) based on operating capacity as of September 2024. The company boasts significant revenue growth, with operating revenue increasing from ₹910.42 crore in FY2022 to ₹1,962.60 crore in FY2024. Its ambitious vision includes reaching 60 gigawatts of renewable energy capacity by 2032.

Several analysts have given the IPO a “subscribe” rating, citing the company’s strong financial growth and strategic position within the renewable energy sector. They highlight its reasonable valuation compared to peers and its investments in promising areas such as hydrogen and battery storage technologies. However, the initial subscription figures suggest that investors may be taking a cautious approach.

The IPO’s registrar is KFin Technologies, and lead managers include IDBI Capital Market Services, HDFC Bank, IIFL Securities, and Nuvama Wealth Management. The shares are expected to list on the BSE and NSE on November 27. Potential investors are advised to conduct thorough due diligence before investing.

**Disclaimer:** *This is not investment advice. Consult with a financial advisor before making any investment decisions.*

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