The state-owned renewable energy giant raised around Monday ₹3,960 crore from investors in its anchor round, according to an exchange filing, ahead of the company’s proposed initial public offering (IPO).

As per the exchange filing, the company has allotted 36,66,66,666 or 36.66 crore equity shares to anchor investors at an allotment price of ₹108 per share to 107 key investors (including mutual funds) at a nominal value of ₹10 per share.

The pool of investors for NTPC Green Energy IPO includes New World Fund, Goldman Sachs India, Government of Singapore, Life Insurance Corporation of India, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund, Abu Dhabi Investment Authority and SBI Life Insurance. This involved, among other things, investing in public issues.

According to the exchange data filing, Life Insurance Company of India at 12.63 percent, New World Fund at 5.29 percent, Goldman Sachs India at 5.70 percent, Government of Singapore at 5.31 percent, we are the lead anchor investors in this issue.

The renewable energy company also said the 39.65 percent allocation to anchor investors was allocated to 16 domestic mutual funds across a total of 72 schemes, according to the stock exchange filing.

About NTPC Green Energy IPO

NTPC Green Energy Limited is a wholly owned subsidiary of NTPC Ltd, the state-owned power generation company. The renewable energy production company specializes in carrying out projects using organic and inorganic methods.

The company plans to use the proceeds from the public issue to invest in its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL). NTPC Green Energy also plans to repay or prepay certain outstanding borrowings in whole or in part and use the remainder for general corporate purposes.

The company has set the IPO price range in the range of ₹102 to ₹108 per equity share with a par value of ₹10 per share.

The gray market premium (GMP) because the public issue is ₹0.70 per share, effective November 18. As the shares are at the upper IPO price range, the issue is expected to be listed at ₹108.7 per share, or a premium of 0.65 percent, according to Investorgain.com.

Gray Market Premium (GMP) shows investors’ willingness to pay more for a public issue. However, the GMP for NTPC Green Energy has declined significantly in recent days. The IPO is expected to debut on BSE and NSE on Wednesday, November 27.