NTPC Green Energy Shines with Strong IPO Debut

Shares of NTPC Green Energy Ltd surged 13% above the issue price, marking a strong debut on the stock market. The IPO, subscribed 2.40 times, aimed to raise Rs 10,000 crore, with proceeds designated for debt repayment and corporate purposes. A renewable energy leader, NTPC Green Energy boasts a comprehensive portfolio.

Shares of NTPC Green Energy Ltd, the renewable energy subsidiary of NTPC, soared with a 13% premium over the issue price on its market debut. Initially priced at Rs 108, shares opened at Rs 111.60 on the BSE, reaching a peak of Rs 122.75 during the trading day.

At the NSE, the stock began trading at Rs 111.50 and eventually closed at Rs 121.25, reflecting a substantial 12.26% increase. This strong market performance comes after the company's IPO was oversubscribed 2.40 times by investors.

Proceeds from the Rs 10,000 crore IPO will primarily address outstanding loans of NTPC Renewable Energy Ltd, a subsidiary, further strengthening its position in the renewable sector with its significant solar and wind power assets.

(With inputs from agencies.)