NTPC Green Energy IPO has opened today with a price band of ₹102-₹108. Check the GMP, subscription status, and expert recommendations on whether to apply.
NTPC Green Energy IPO Day 1: GMP, Subscription Status, and Should You Apply?
The NTPC Green Energy IPO has officially launched today, November 19, 2024, attracting significant attention in the Indian primary market. Here’s everything you need to know about the IPO, including its details, subscription status, and expert recommendations.
IPO Details
- Price Band: ₹102 to ₹108 per equity share. A discount of ₹5 per share is available for employees.
- Issue Size: The company aims to raise ₹10,000 crore through this public offering.
- Lot Size: Each lot consists of 138 shares, making it accessible for various investors.
- Subscription Period: The IPO will be open until November 22, 2024.
- Allotment Date: Expected on November 23, 2024, with possible delays until November 25, 2024.
- Listing Date: Shares are anticipated to list on the BSE and NSE on November 27, 2024.
Current Subscription Status
As of 12:57 PM on Day 1:
- Overall Subscription: 0.21 times
- Retail Portion: 0.87 times
- Non-Institutional Investors (NII): 0.08 times
Grey Market Premium (GMP)
- Current GMP: NTPC Green Energy shares are trading at a premium of ₹3 in the grey market, indicating positive investor sentiment.
Analyst Recommendations
- Manish Chowdhury, Head of Research at StoxBox:
- Rating: Subscribe
- Rationale: The company is valued at a PE ratio of 147.95 (upper price band based on FY24 earnings), which is reasonable compared to its peers. Its strategic positioning in the renewable energy sector suggests strong growth potential.
- Mahesh M Ojha, AVP of Research at Hensex Securities:
- Rating: Subscribe
- Rationale: As the largest renewable energy public sector enterprise (excluding hydro), NTPC Green Energy has demonstrated impressive revenue growth and solid support from its parent company. The company’s focus on utility-scale solar and wind projects positions it well for future growth.
- Other Analyst Ratings: Many firms, including Adroit Financial Services and Anand Rathi, have assigned a “buy” rating, reinforcing confidence in NTPC Green Energy’s potential.
Conclusion: Should You Apply?
With strong endorsements from analysts and a positive outlook on the renewable energy market, applying for the NTPC Green Energy IPO seems to be a wise choice for medium to long-term investors. The company’s growth trajectory, coupled with its strategic initiatives in renewable energy, makes it an attractive investment opportunity.
Disclaimer: The views and recommendations expressed in this article are those of individual analysts and do not reflect the opinions of Mint. Always consult with a certified financial advisor before making investment decisions.
