IPO market highlights on Nov 19: NTPC Green Energy booked 33% on day 1, allotment status of two issues finalised

The much-awaited NTPC Green Energy Limited IPO opened for subscription on Tuesday, November 19. Investors also awaited the share allocation details of Zinka Logistics Solution Limited and Onyx Biotec Limited's initial public offerings. It was a busy day for investors in the primary market on Tuesday, a holiday-truncated week.

The stock markets will remain closed on November 20 on account of the Assembly Elections in Maharashtra.

NTPC Green Energy IPO Day 1

NTPC Green Energy IPO was subscribed to 33% on the first day of bidding. The mainboard issue of the state-owned NTPC Limited’s subsidiary received bids for over 19.46 crore shares compared to 59.31 crore shares on offer.

NTPC Green Energy IPO was booked 1.33 times in the retail category and 15% in the Non-Institutional Investors’ (NIIs) segment. The Qualified Institutional Buyers (QIBs) applied for 87,906 shares against more than 25.88 crore shares reserved for them.

The employees’ quota of the NTPC Green Energy IPO was booked at 17%, while the shareholders’ segment was booked at 57%.

The ₹10,000-crore IPO consists of an entirely fresh issue of 92.59 crore shares. The IPO price band has been fixed at ₹102 to ₹108 per share.

NTPC Green Energy IPO subscription is scheduled to close on Friday, November 22.The tentative listing date for NTPC Green Energy IPO has been fixed as November 27. Shares of NTPC Green Energy will be listed on the NSE and BSE.

Share allotment status of Onyx Biotec and Zinka Logistics Solution IPOs to be finalised

Onyx Biotec Limited and Zinka Logistics Solution Limited will finalise the share allotment status for their public offers on November 19. Shares of both the companies are scheduled to make their D-street debut on November 21.

Satvik Green Energy and Borana Weaves file draft papers for IPOs

Satvik Green Energy filed its preliminary papers for its public issue with the market regulator, the Securities and Exchange Board of India (SEBI). According to the draft red herring prospectus (DRHP), the company plans to raise ₹1,150 crore through its public issue, which consists of a fresh issuance of shares worth ₹850 crore and an offer for sale (OFS) component worth ₹300 crore.

Satvik Green Energy manufactures solar photovoltaic modules. The company plans to use the funds raised via the public issue to repay its debt and invest in its subsidiary, Saatvik Solar Industries, to set up a 4 GW solar PV module manufacturing facility in Odisha.

Borana Weaves filed its preliminary papers with SEBI to raise funds through a fresh issue of 70 lakh equity shares. The company plans to use the money raised via the IPO for establishing a new manufacturing unit to produce grey fabric at Surat. A portion of the proceeds will also be used to meet working capital requirements.

IPO activity for the upcoming days of the week

Two new public issues will open for subscription on the remaining days of the week. Lamosaic India IPO will open for subscription on November 21 and Enviro Infra Engineers IPO and C2C Advanced Systems IPO will open for subscription on November 22. On the other hand the subscription window for NTPC Green Energy IPO will open on November 22 as well.

Zinka Logistics Solution Limited, which operates the BlackBuck app for tuckers, will make the market debut on November 21.

Upcoming IPOs in November

Two new IPOs will open for subscription in the last week of November. Rajesh Power Services Limited IPO will open for subscription on November 25 and Rajputana Biodiesel IPO will open for subscription on November 26.