The IPO of NTPC Green Energy is set to open next week, with a total size of Rs 10,000 crore. The entire issue will consist of fresh shares, with the company planning to issue 92.59 crore new shares. The IPO will remain open until November 22, and the price band has been fixed at Rs 102 to Rs 108 per share.
Each lot of the IPO will consist of 108 shares, requiring investors to make a minimum investment of Rs 14,904. The allotment of shares is expected to be finalised by November 25, and the company's shares are likely to be listed on the stock exchange on November 27, 2024.
Also Read | NTPC Green IPO opens for subscription on Nov 19, issue price is Rs 102-108.
Employees subscribing to the IPO will receive a Rs 5 per share discount. Of the total IPO size, 75% will be reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. At present, NTPC owns 100% of the company's shares.
According to a report by Investorsgains, the IPO is trading at a premium of Rs 2.50 in the grey market, a significant decline from its peak premium of Rs 25. The falling GMP (grey market premium) is attributed to current market trends. The stock market has seen a significant downturn in the last six days, with both the Sensex and Nifty dropping by 10%.