Shares of NTPC Green Energy had a steady stock market debut on November 27, listing at Rs 111.50 on the National Stock Exchange (NSE), marking a 3.24% premium over its IPO price of Rs 108 per share. On the BSE, the shares opened at Rs 111.60, reflecting a similar 3.33% premium.
Key Highlights
- The Rs 10,000 crore IPO was subscribed 2.42 times, indicating solid demand from investors.
- The listing price exceeded expectations, as the Grey Market Premium (GMP) for the stock had remained flat prior to its debut.
Company Profile
NTPC Green Energy, a ‘Maharatna’ public sector enterprise, focuses on renewable energy with a portfolio including solar and wind power projects.
IPO Proceeds
Funds raised from the IPO will be primarily used for:
- Repaying or prepaying loans of NTPC Renewable Energy Ltd (NREL), its subsidiary.
- General corporate purposes to enhance the company’s operational efficiency.
Strategic Developments
NTPC Green Energy has signed a 50:50 joint venture agreement with Maharashtra State Power Generation Company Ltd, MAHAGENCO. Accordingly, the Joint Venture, named as MAHAGENCO NTPC Green Energy Private Limited- MNGEPL, which will be for:
- Develop and manage renewable energy parks in Maharashtra under the Ultra Mega Renewable Energy Power Parks (UMREPP) scheme.
- Facilitate the development of renewable energy projects in the state.
The joint venture underscores NTPC Green Energy’s commitment to expanding its presence in India’s renewable energy sector, which aligns with the government’s focus on sustainable energy development.
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Source: Moneycontrol
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