NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Ltd., made an impressive debut on stock exchanges, recording a 12% rise in its share price on the first day of trading. The shares opened at ₹102, aligning with the lower end of the IPO price band of ₹102-108, and closed the day at ₹114, surpassing market expectations after a subdued start.
NGEL’s public offering, conducted from November 19 to November 22, was priced aggressively, raising ₹10,000 crore. Proceeds will primarily address debt repayment and support the company’s renewable energy expansion. The IPO witnessed strong participation, especially from retail investors, who oversubscribed their portion by 1.5 times. Anchor investors including Life Insurance Corporation of India and international entities such as Goldman Sachs and the Government of Singapore contributed ₹3,960 crore ahead of the issue.
The company’s performance reflects its strategic focus on renewable energy, currently operating 3,320 MW across solar and wind projects, with ambitious plans to expand capacity to 19 GW by 2027. NGEL also aligns with India’s broader target of achieving 500 GW of renewable energy by 2030. Analysts have highlighted its long-term growth potential despite a steep valuation, citing NTPC’s backing and government support as significant advantages.
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This article first appeared on Greenlogue and is brought to you by Hyphen Digital Network
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