NTPC Green Energy IPO Opens on November 19, 2024: Key Dates, Price Band, and Investment Insights

Do you want to own a share in India’s green energy future?** Then this could be a potential opportunity for you. NTPC Green Energy’s ₹10,000 crore IPO opens for subscription on Tuesday, 19 November, and will close on Friday, 22 November. Ahead of the issue’s opening, the company is conducting the anchor investor round on Monday, 18 November.

NGEL Price Band: ₹102-108

The price band for the public issue of NTPC Green Energy is set between ₹102-108 per share, meaning the minimum investment for one lot of 138 shares is ₹14,904 at the upper band.

NGEL Listing on 27 November

The company is scheduled to finalise the basis of allotment by Monday, 25 November, and shares will be credited to the demat accounts of successful subscribers on Tuesday, 26 November. For those who do not secure an allotment, the initiation of refunds will also occur on 26 November. The company is expected to list on the BSE and NSE on Wednesday, 27 November.

Where Will IPO Proceeds Go?

The company plans to use the proceeds of its IPO to invest in its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL). It also plans to utilise the funds for the repayment or prepayment of either all or part of certain outstanding borrowings availed by NREL. Apart from funding NREL, the company intends to allocate some proceeds towards general corporate purposes.

Brokerages on NTPC Green Energy IPO

Analysts at top brokerages such as Reliance Securities and SBI Securities suggest this IPO has long-term potential, aligning well with India’s net-zero goals.

About NTPC Green Energy (NGEL)

Incorporated in 2022, NTPC Green Energy serves as an umbrella company for the green business initiatives of public sector power major NTPC. NGEL is a wholly-owned subsidiary of NTPC and undertakes green energy projects through both organic and inorganic routes. The company has set an ambitious target of generating 60 GW of energy by FY32.

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