NTPC Green Energy is a ‘Maharatna’ Central Public Sector Enterprise with renewable energy portfolio, including solar and wind power assets. File
| Photo Credit: Reuters
Shares of NTPC jumped by more than 4% to hit an all-time high on Thursday (September 19, 2024) after NTPC Green Energy, the renewable energy arm of the firm, filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise ₹10,000 crore through an Initial Public Offering (IPO).
The stock climbed 4.34% to ₹431.85 — its record high — on the BSE. At the NSE, it surged 4.27% to ₹431.85 — the all-time high.
The initial share-sale is entirely a fresh issuance of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP).
The renewable energy firm said proceeds of the issue to the tune of ₹7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Limited’s (NREL) outstanding loans, while a portion will be utilised for general corporate purposes.
NTPC Green Energy is a ‘Maharatna’ Central Public Sector Enterprise with renewable energy portfolio, including solar and wind power assets.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers to the issue.
Published – September 19, 2024 12:07 pm IST
