(Reuters) -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) IPO, which is set to be the country's third-largest this year, a newspaper advertisement showed on Wednesday.

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 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 company didn't offer more than 10% of the issue to retail investors. The NIIs can place their bids for 15% of the issue.

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

The business intends to repay debt by investing in its subsidiary, NTPC Renewable Energy, with the money raised from the IPO.

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.

NTPC Green Energy will be the biggest IPO by a PSU since Life Insurance Corporation's ₹21,000-crore share sale in May 2022.

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 Ltd. is considering seeking a valuation of about $12 billion in what could be one of India’s biggest initial public offerings in the renewable energy industry, according to people familiar with the matter.