Nuvama Contribution
- Nuvama delivers the Largest Renewable Energy IPO in India
- Nuvama played a critical role in garnering participation from Key Global and Domestic Marquee Investors securing the largest share of the Anchor book – 36%(1) in a 4 bank syndicate across Investor categories including SWFs, ‘Long Only’ FIIs, Mutual Fund, DIIs and Family Offices
- Nuvama drove early demand momentum whilst setting a pricing benchmark and handholding the management to firm up key contours of the deal
- Nuvama leveraged its strong understanding of the industry by uniquely positioning NGEL as a dominant player set to become one of the biggest players in India’s clean energy commitment
- Pushed the story aggressively through all our distribution channels to garner strong interest in HNI, Retail & Shareholder category resulting in 19 lakh+ applications(2)
Deal Details
- NGEL shares closed with a 12.3% premium from its Issue price – Third highest listing day gains for large IPOs(3) in last 15 years
- First IPO from a Maharatna PSU subsidiary in over a decade
- IPO received oversubscription across investor categories despite a challenging market environment at the time of launch
(1) Excluding LIC; in terms of amount allocated
(2) After technical rejections
(3) IPO Size > INR 8,000 Crores