NTPC Green Energy is set to list on the stock market on Wednesday, November 27, 2024, following decent interest during its 3-day IPO bidding process.
The IPO was subscribed 2.55 times overall by November 22, 2024. Among investors, the retail segment showed the most interest, subscribing 3.59 times the shares available. Qualified Institutional Buyers (QIBs) followed closely with 3.51 times, while Non-Institutional Investors (NIIs), including high-net-worth individuals, subscribed only 0.85 times.
The grey market premium (GMP) for NTPC Green Energy rose slightly to ₹3.50, reflecting a 3.24% gain. Analysts attribute this rise more to a general market rally than strong enthusiasm for the IPO itself.
Gaurav Garg from Lemonn Markets noted, “The stock might list at a small premium, but its high valuation could lead to a drop in the days after. The renewables sector is doing well, and strong IPO debuts in this space may create a fear of missing out (FOMO) among investors.”
Key IPO Details:
- Latest GMP: ₹3.50 (as of November 25, 2024)
- IPO Price Band: ₹108 (upper limit)
- Expected Listing Price: ₹111.50 (including GMP)
- Potential Gain: 3.24% per share
The share allotment for the IPO will be finalized by Monday, November 25. Investors can check their allotment status on the BSE website or through Kfin Technologies, the IPO registrar.
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