Shares of NTPC Green Energy fell by over 4% on December 26, as the one-month lock-in period for anchor investors expired. Following this expiry, 1.83 crore shares, representing a 2% stake in the company, became eligible for trading. Anchor investors now have the option to sell up to 50% of their holdings if they choose.
While the end of the lock-in period increases trading flexibility, it does not essentially imply that all the eligible shares would be sold. However, the possibility of a partial profit-booking hurt market sentiment.
NTPC Green Energy has moved up 9% despite today’s fall, following its listing on November 29, 2024. It had listed at ₹111.50 a share on the NSE, a premium of 3.24% compared to its IPO price of ₹108.
The ₹10,000 crore IPO was a complete fresh issue-which was also the biggest ever public offer in the country’s renewable energy space. Proceeds of ₹7,500 crores to be utilized from the public issue for the repayment or prepayment of loans by its subsidiary, NTPC Renewable Energy Ltd., while the remaining amount will go toward general corporate purposes.
On the positive side, NTPC Green Energy has recently inked an MoU with the Department of Industries, Government of Bihar, to implement renewable energy projects in ground-mounted and floating solar installations, battery energy storage systems, and green hydrogen mobility in the state. NTPC Green Energy operates as a diversified ‘Maharatna’ Public Sector Enterprise dealing in portfolios of renewable energy, especially Solar and Wind Power Projects. It has focused on cleaner energy to fall in line with India’s sustainable development goals.
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Source: Moneycontrol
News Desk
