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.

Shares of NTPC Green Energy Limited are expected to make its debut on the stock exchanges on Tuesday after having been subscribed over 200%.

NTPC Green IPO share allotment is expected to be finalized on Monday, with shares being allotted via lottery. The IPO received a subscription of nearly 2.4 times. Listing is anticipated for November 27,

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.

The initial public offer (IPO) of state-run NTPC Green Energy was subscribed 2.39 times on final day of the subscription period, with the retail investor portion being booked 3.35 times. As per BSE data,

NTPC Green Energy – plans to use the proceeds from the IPO, about Rs 7,500 crore at the upper band, to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans.