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NTPC Green Energy Share Price: NTPC Green Energy made a modest debut on the stock market on Wednesday, November 27, with its shares listing at a premium of over 3%.
NPTC Green Energy Shares fall 8% during the intraday.
NTPC Green Energy Share Price: Shares of NTPC Green Energy Ltd, the separately listed green arm of Maharatna PSU NTPC Ltd, nosedived 8 per cent during the morning intraday session to come down below Rs 100 for the first time since the listing. Around 11:20 PM, the scrip was trading at Rs 97.70 apiece, against the day’s opening at Rs 102.20 apiece.
The sharp fall in the stock price happened as the three-month lock-in period for shares ended today, i.e. February 24. Due to which, something around 18.33 crore shares or 2 per cent of the company’s outstanding equities have become available to offload in the free market.
Lock-in period in IPO bounds certain investors to not sell their holdings for a defined period. It usually stays around 6 months or can be extended to one year.
NTPC Green Energy IPO
NTPC Green Energy made a modest debut on the stock market on Wednesday, November 27, with its shares listing at a premium of over 3%. This came after the Rs 10,000 crore IPO was oversubscribed 2.42 times in the primary market.
On the National Stock Exchange (NSE), NTPC Green Energy shares were listed at Rs 111.50, reflecting a premium of 3.24% over the IPO price of Rs 108 per share.
On the Bombay Stock Exchange (BSE), the shares opened at Rs 111.60, a premium of 3.33% from the issue price.
The listing performance exceeded expectations in the grey market, where the NTPC Green Energy IPO’s grey market premium (GMP) had remained flat on the day of the listing.
About NTPC Green Energy
NTPC Green, a subsidiary of NTPC, is the largest public sector enterprise in India in terms of renewable energy capacity (excluding hydro), as of September 2024. Its renewable energy portfolio includes both solar and wind power projects spread across more than six states, helping to mitigate location-specific generation risks. As of September 2024, the company’s operational capacity includes 3,220 MW of solar power and 100 MW of wind power.
The proceeds from NTPC Green Energy’s IPO, estimated at around Rs 7,500 crore at the upper price band, will be used primarily to repay or prepay part of the outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL). A portion of the funds will also be allocated for general corporate purposes.
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