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NTPC Green Energy IPO Posts 3.24 Percent Gain on BSE and NSE Listing

NTPC Green Energy Ltd. debuted on the BSE and NSE at INR 111.50, a 3.24 percent premium over its issue price, with the stock later hitting the upper circuit at INR 122.65, reflecting a 13.56 percent overall gain.

November 27, 2024. By Mrinmoy Dey

The shares of NTPC Green Energy Ltd. have been listed on the BSE and NSE at a price of INR 111.50 on November 27, 2024. This marks a gain of 3.24 percent over its issue price of INR 108. The stock has hit the upper circuit at INR 122.65 in the afternoon posting an overall gain of 13.56 percent.

The initial public offering (IPO) of NTPC Green Energy, aiming to raise INR 10,000 crore was open for subscription from November 19-22, 2024 and was oversubscribed by 2.42 times.

The IPO was a completely fresh issue of equity shares with a face value of INR 10 each and didn’t have any offer-for-sale (OFS) component.

Of the total IPO proceeds, INR 7,500 crore will be used to repay the debts of its wholly-owned subsidiary NTPC Renewable Energy Ltd. A part will also be used for general corporate purposes.

The company’s operational capacity was 3,071 MW of solar projects and 100 MW of wind projects across six states as of August 31, 2024. Further, the NTPC group intends to reach 60 GW of renewable energy capacity by 2032. It has an installed capacity of 3.5 GW and over 28 GW in progress.

Further, the company is venturing into newer avenues to diversify its RE portfolio. NGEL recently formed a 50:50 joint venture with ONGC Green Ltd. to develop renewable energy projects, including offshore wind, storage, and ESG-compliant initiatives.

This week, NGEL and Chhattisgarh State Power Generation Co. Ltd. (CSPGCL) have signed a memorandum of understanding (MoU) to develop up to 2,000 MW of renewable energy projects, including floating solar in Chhattisgarh.

NGEL is also setting up a Green Hydrogen Hub at Pudimadaka, Andhra Pradesh to produce 1,500 tonnes of green hydrogen daily, along with 4,500 tonnes of green ammonia, 1,500 tonnes of green methanol, and 1,500 tonnes of sustainable aviation fuel (SAF) or green urea, making it one of the largest such facilities in the world.

Given India’s ambitious RE targets of 500 GW by 2030 and favourable policy initiatives, the long-term outlook for the RE sector looks promising. The same holds true for NTPC Green Energy as well.

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Investment & Trading

NTPC Green Energy

NTPC Green Energy IPO

Renewable energy IPO

IPO listing gain

NGEL RE portfolio

Offshore Wind Projects

Floating solar projects

Green hydrogen hub