NTPC Green's IPO attracts bids worth $1.8b in India's third-biggest listing this year

NTPC Green Energy, the renewable energy arm of state-owned NTPC, garnered bids worth 154.06 billion rupees ($1.83 billion) on Friday for its $1.2 billion initial public offering, as investors bet on the country's growing clean energy needs, reports Reuters.
India has been scrambling to meet its clean energy targets and has ramped up investments in renewable energy and expanded capacity. It has to spend $385 billion by 2030 to meet its targets after falling short in 2022, per Moody's Ratings.
The IPO has done reasonably well for itself and the fact they have achieved 2.41 times the overall share subscription is creditable, said Arun Kejriwal, founder of brokerage Kejriwal Research.