NTPC Green’s stock list at 3% premium over IPO price; ends 13% higher

On the BSE, NSEL’s stock ended at Rs 122.1 apiece, up 13.06 per cent, after opening at Rs 111.6 a share. The company’s shares gained 12.27 per cent to finish at Rs 121.25 per share, compared to the opening price of Rs 111.5.

NGEL’s shares hit the upper circuit of Rs 122.75 and Rs 122.65 on the BSE and NSE, respectively. The market capitalisation, or total market value, of the company stood at Rs 1.02 lakh crore.

The price band for NTPC Green Energy’s, the wholly-owned subsidiary of public sector NTPC Ltd, Rs 10,000 crore initial public offering was fixed at Rs 102-108 per share with each equity share having a face value of Rs 10. It opened for subscription on November 19 and closed on November 22.

The IPO was subscribed 2.42 times, with the issue receiving applications for 143.37 crore shares as against the total offering of 59.32 crore shares, as per the BSE. Retail investors placed bids for 29.71 crore shares as against the total offering of 8.62 crore shares, with the portion getting subscribed 3.44 times. The IPO received 85.84 crore bids from qualified institutional buyers (QIB) as against 25.88 shares offered, translating into 3.32 times subscription. Non-institutional investors (NIIs) portion got subscribed 0.81 times.

The IPO was the third largest IPO of the year, following Hyundai Motor India’s Rs 27,870 crore issue and Swiggy’s Rs 11,300 crore IPO.