Renewable energy based power generation company Orient Green Power Company (OGPL)'s initial public offer (IPO) was subscribed 1.07 times and received bids for 17.88 crore shares compared with 16.69 crore shares on offer.

Bidding for institutional investors had ended on 23 September 2010 while bidding for non-institutional and retail buyers concluded on 24 September 2010.

Categorywise, qualified institutional buyers' category was subscribed 2.09 times. However, the portion reserved for retail individual investors and non institutional investors was subscribed 18% and 64% respectively.

The price band for the IPO was Rs 47 to Rs 55 per share. Promoter Shriram EPC holds 35.8% stake in OGPL. The remaining stake in the company is held by two private equity firms -- Bessemer Venture Partners and Olympus Capital.

OGPL had on 20 September 2010 announced raising Rs 115.36 crore by allotting 2.45 crore shares at Rs 47 per share to eight anchor investors.

Rating agency Crisil had assigned an IPO Grade 4 to the company's IPO indicating above average fundamentals.

OGPL is a leading independent renewable energy-based power generation company focused on developing, owning and operating a diversified portfolio of renewable energy power plants.