NTPC Green Energy Shares Rises 5% a Day after Listing, gains 12% upon listing

NTPC Green Energy Ltd., a subsidiary of the state-owned NTPC Ltd., witnesses a rise in shares by 5% with a follow-up of a 12% gain on its listing day this past Wednesday. The stock surged after the company announced the commencement of commercial operations for the first phase of its Shajapur Solar Project in Madhya Pradesh.

In a filing on November 28, NTPC Green Energy revealed that its wholly-owned subsidiary, NTPC Renewable Energy Ltd., will begin commercial operations for 55 MW of the 105 MW Shajapur Solar Project starting November 29.

Earlier in October, NTPC had announced the commissioning of a 50 MW segment from the 220 MW Shajapur Solar Project in Madhya Pradesh through its step-down subsidiary, NTPC Renewable Energy.

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The Green energy stock had debuted at Rs 111.50 per share on the NSE, representing a 3.24% premium over the IPO price of Rs 108 per share. On the BSE, the stock is listed at Rs 111.60, reflecting a premium of 3.33%.

On Thursday, the second day of trading, NTPC Green Energy’s stock reached an intraday high of Rs 127.55 per share, marking an increase of over 18% from its issue price of Rs 108 and a rise of more than 14% from its listing price.

The company raised Rs 10,000 crore through its public issue, which comprised an entirely fresh issuance of 92.59 crore shares. The subscription of NTPC Green Energy IPO was open from November 19 to November 22, with the price band set between Rs 102 and Rs 108 per share. The company’s market capitalization currently stands at Rs 1,05,034.20 crore.

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