India's NTPC Green Energy has set a price band of 102 rupees to 108 rupees per share for its 100 billion rupees ($1.19 billion) initial public offering (IPO), a newspaper advertisement showed on Wednesday.

NTPC Green Energy Limited has set its IPO price band between ₹102 and ₹108 per share. Subscription opens on November 19 and closes on November 22, with anchor investor allocations on November 18.

NTPC Green Energy has announced to launch its initial public offering (IPO) on Tuesday, November 19 and the bidding for the issue shall conclude on Friday, November 22.

The Rs 10,000-crore initial share sale of NTPC Green Energy, the wholly-owned subsidiary of the country's largest power generation company NTPC, will open for subscription on November 19, with a price band at Rs 102-108 per share.

Investors making bids for the NTPC Green Energy IPO can do so for one lot of 138 shares and in multiples of that thereafter.

Reports state that between November 12 and 14, NTPC Green Energy is anticipated to submit its red herring prospectus (RHP). According to reports, the NTPC Green Energy IPO subscription period is anticipated to run from November 19 to November 22. The listing date and the allotment date have not yet been disclosed.

This is as per a report by Bloomberg citing people familiar with the development. If successful, this IPO could become one of the largest in the renewable energy industry.