NTPC Green Share Price: NTPC Green Energy joins Rs 1 trillion m-cap club on debut, shares zoom 10% in afternoon trade

Piyush Goyal: Huge scope on both sides for Indian and French businesses to engage with both nations.

Piyush Goyal: India, France have a number of options to share ideas on food security, and sustainable agriculture.

Piyush Goyal: India, and France have huge potential to collaborate on renewable energy.

Digital entertainment and technology firm JetSynthesys announced on November 27 that it has appointed Ryo Shima as the chief executive officer of its gaming unit.

Shima will take over from Anuj Tandon, who is leaving the company after a two-year stint to pursue other opportunities.

Shima will be responsible for steering the strategic direction of the company's gaming division, with a focus on expanding its portfolio, enhancing player experiences, and harnessing advanced technology to deliver gaming solutions, at a time when Indian companies are expanding their global footprint, JetSynthesys said in a statement.

India Ratings projects the fiscal deficit for the current year to be 4.75%, 19 basis points lower than the budgeted estimate of 4.94%. Tax revenues for FY25 are expected to surpass budget estimates, but capital expenditure is likely to drop sharply to Rs 6.21 lakh crore, compared to the budgeted Rs 11.1 lakh crore.

• NTPC Green Energy, which made a strong debut on the bourses on Wednesday, could look at ESG funds to raise debt finance as it is the only AAA-rated company in the renewable space, said CEO Rajiv Gupta.
• “We are the only AAA-rated company in the renewable sector here and we are able to access debt easily from domestic markets. Even we are trying to access the ESG funds. So, we have never had any issues as far as debt is concerned,” said Gupta, while speaking to Moneycontrol on the sidelines of the listing ceremony. (Read More)

• NTPC Green Energy made a strong debut in the market today.
• Listed on the Bombay Stock Exchange at Rs 111.60 per share.
• This price represents a 3.33% premium over the issue price of Rs 108.
• NTPC Green Energy has joined the Rs 1 trillion market cap club.
• The stock surged 10% in the afternoon trade.
• It is the third-largest IPO of 2024.

Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., highlighted that as a wholly-owned subsidiary of NTPC Ltd., the company benefits from a strong and diversified portfolio spanning various geographies and off-takers. While its consistent revenue growth is promising, concerns remain over temporary fluctuations in profitability and margins. Despite aggressive pricing based on the PE ratio, Nyati believes the company’s long-term potential in the renewable energy sector makes it a good choice for patient investors with a long-term outlook. She recommends holding the stock with a stop-loss set at around Rs 110.

Will have 19 GW capacity by FY27. Have Rs 2,000 crore EBITDA in FY24, can grow to Rs 35,000 cr-40,000 cr EBITDA by 2032 - NTPC Green Energy to CNBC-TV18

NTPC Green Energy share price hit the 10 percent upper circuit after a muted listing on the exchange on November 27. The stock price hit a high of Rs 122.65 per share on the NSE, up 10 percent. (Read More)

• Former Attorney General of India Mukul Rohatgi today addressed media on the issue of Adani indictment. "..I have gone through this indictment by the US court. My assessment is that there are 5 charges or 5 counts. Neither in count 1 nor in count 5 is Mr. Adani or his nephew charged." Rohatgi also said that tehse were his personal views.
• "At the outset, I want to tell you that these are my personal legal views. I am not a spokesman for the Adani Group. I am a lawyer. I have been appearing for the Adani Group in several cases. I have gone through this indictment by the US court," Rohatgi said.

NTPC Green Energy lists at Rs 111.60 apiece on BSE with premium of 3.33% over issue price

"It is a very proud moment for me. After just one year if listing IREDA, we are back here for NTPC listing. These are important and big opportunity for nation building," says DIPAM's Manoj Kumar

• Over 87% of the company’s FY24 revenue was derived from its top five off-takers, with the largest accounting for 50%.
• Any loss of these key customers or a deterioration in their financial health could negatively affect the company’s business and financial performance.
• Cost overruns or delays in the construction of renewable energy projects could adversely impact the company’s operations, financial performance, and cash flows.

"This is the 53rd company to have been listed on the mainboads. The IPO has listed a very good response. We hope today's listing will inspire more companies to look at the capital markets for listing," says Shriram Krishnan, BDO, NSE

• NTPC Green Energy was created with a bold mission to lead India green energy mission. The journey has not been only about created growth but also creating jobs and much more.
• This is an opportunity for investors to participate not only shaping the future of energy, but is also deep ingrained with India's mission for sustainable development.

NTPC ended the previous trading session at Rs 361.65, showing a 3-month decline of 12.82%.

"We expect the stock to list at a premium but anticipate a decline in the following days due to its high valuation. Although the renewables sector is thriving and IPOs in this space have delivered exceptional listings, this momentum may trigger a 'fear of missing out' (FOMO) among investors applying for NTPC Green," said Gaurav Garg from the Lemonn Markets Desk.

• Listing ceremony of NTPC Green Energy IPO begins
• Top management of NTPC green, their book-running lead managers and other officials are present at the venue

The Gift Nifty is signaling a positive start for the Indian stock market, indicating that there could be an optimistic opening on the National Stock Exchange (NSE) when trading begins. This suggests that investor sentiment is likely to be favorable, potentially boosting market performance at the opening bell.

Data from Trendlyne shows that 302 companies from both the mainboard and SME sectors have successfully raised funds this year, a notable increase from the 238 listings in 2023. Out of these 302 IPOs, 204 (67.54%) are currently trading above their issue prices.

The unlisted shares of NTPC Green Energy are reportedly trading at a Rs 4 premium in the grey market over the IPO's upper price band of Rs 108, which is also the allotment price. Sources monitoring grey market activity indicate that this points to an expected listing price of around Rs 112 per share. If these estimates prove correct, investors could see a modest listing gain of approximately 1.85%.

The NTPC Green Energy IPO is set to list on both Indian exchanges shortly. Investors who received the allotment will be able to see their returns when trading begins at 10 am. However, based on GMP indications, a muted listing is expected.

• High-profile companies that have listed their shares on exchanges include:Swiggy
• Hyundai Motor India
• Bajaj Housing Finance
• Premier Energies
• FirstCry
• Ola Electric Mobility
• TBO Tek
• These listings provide investors with an opportunity to participate in the growth journey of these companies.

2024 has experienced a significant boom in India’s primary market, with 302 companies listing, fueled by favorable market conditions and strong retail investor participation. Prominent IPOs this year include Swiggy and Hyundai, while SME offerings have also gained considerable attention.

Stock market experts believe that the NTPC Green Energy IPO has received a positive response from Indian primary market investors, thanks to the company’s strong fundamentals. However, they cautioned that the volatility in the stock market could dampen listing-day excitement. Analysts predict a "flat to positive" debut for the stock, reflecting cautious optimism given the current market conditions.

In the grey market, NTPC Green Energy's IPO is trading at a premium of Rs 4 over its upper price band of Rs 108, indicating an expected listing price of approximately Rs 112. This modest Grey Market Premium (GMP) reflects cautious investor sentiment ahead of the stock's debut, with expectations of a stable but positive listing.

With India ranked fourth globally in total renewable energy capacity, NTPC Green Energy is well-positioned to capitalise on the country's ambitious clean energy goals. Analysts agree that the company’s long-term outlook is promising, making it an attractive option for patient investors looking to invest in the renewable energy sector.

Narendra Solanki and Gaurav Garg, research analysts from Anand Rathi and Lemonn Markets, respectively, also recommended that investors focus on the company's long-term growth potential.

Prashanth Tapse, Senior Vice President at Mehta Equities, says, "The IPO presents an opportunity to invest in a leading renewable energy company backed by NTPC Ltd. However, short-term gains may be limited due to current market conditions," he stated. Tapse advised allotted investors to adopt a long-term hold strategy and suggested that non-allotted investors consider accumulating the stock if it lists close to the issue price.

Manish Chowdhury, Head of Research at StoxBox, emphasised the company’s strong fundamentals, pointing out that its revenue streams are backed by Power Purchase Agreements (PPAs) with Indian government agencies and public utilities. "The renewable energy sector is growing quickly, and NTPC Green Energy is strategically positioned to take advantage of this trend," he added.

NTPC Green Energy has shown robust financial growth, with revenue growing at a compound annual growth rate (CAGR) of 46.82% from FY22 to FY24, reaching Rs 19,625.98 million. The profit after tax (PAT) margin for FY24 was 17.56%, while the return on equity (RoE) stood at 17.76%.

The company boasts one of the largest renewable energy portfolios among public sector enterprises (excluding hydro), with a total capacity of 3,220 MW from solar projects and 100 MW from wind projects across six states.

Manish Chowdhury, Head of Research at StoxBox, anticipates a stable listing, with the stock likely to open about 3 percent higher than the upper price band. "Considering its strong financials and strategic growth, investors who received allotments should look to hold the stock for medium to long-term growth," Chowdhury remarked.

• Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, highlighted that NTPC Green Energy holds a strategic position in the renewable energy market, making it an appealing option for long-term investors. However, she cautioned short-term traders, pointing to the modest grey market premium (GMP) and concerns over potentially aggressive valuations.
• Nyati emphasised that the company’s diversified portfolio across geographies and offtakers is a significant strength. While it has shown consistent revenue growth, temporary fluctuations in profitability and margins could pose challenges. Currently, the GMP of Rs 1.5 (1.39%) suggests limited listing gains.

•  The joint venture (JV) will focus on developing, operating, and maintaining renewable energy parks in Maharashtra under the UMREPP, and will also allocate parks for the development of renewable energy projects.
• NTPC Green Energy Ltd (NGEL) has subscribed to 50,000 equity shares, each with a face value of Rs 10.

Mahagenco NTPC Green Energy Private Limited (MNGEPL) was incorporated on November 25, 2024, as a 50:50 joint venture between NTPC Green Energy Ltd (NGEL), a wholly-owned subsidiary of NTPC Ltd, and Maharashtra State Power Generation Company Ltd (MAHAGENCO), a government-owned company of Maharashtra, according to a regulatory filing by NTPC on November 26.

Ahead of its highly anticipated IPO listing, NTPC announced that its green energy arm has established a 50:50 joint venture with Maharashtra State Power Generation Company Ltd. to develop, operate, and maintain renewable energy parks in Maharashtra.

• The allocation for Qualified Institutional Bidders (QIBs) was oversubscribed 3.32 times.
• The portion reserved for retail investors saw a subscription of 3.44 times.
• Retail and employee categories were subscribed 3.44 times and 0.80%, respectively.
• The Non-Institutional Investors (NIIs) segment was undersubscribed, receiving 81% of the bids.

Brokerage firms generally have a positive outlook on the issue, recommending it primarily for long-term subscription.

• Incorporation: NTPC Green Energy was established in April 2022.
• Promoter: The company is promoted by NTPC Ltd, operating under the Ministry of Power.
• Focus Area: Specializes in renewable energy projects executed through both organic and inorganic routes.
• Operational Capacity (as of August 31, 2024):
• Solar Projects: 3,071 MW across six states.
• Wind Projects: 100 MW.

The book-running lead managers for the NTPC Green Energy IPO are IDBI Capital, HDFC Bank, IIFL Securities, and Nuvama Wealth Management, with Kfin Technologies serving as the registrar for the issue.

Mahesh M. Ojha, AVP-Research at Hensex Securities, describes the NTPC Green Energy IPO as a long-term investment opportunity. He suggests that investors may consider booking partial profits if they achieve gains of 8-10%, but long-term investors are advised to hold onto the shares for an extended period.

The shares were allocated on November 25 through a lottery system, with the entire process overseen by the registrar. On the allotment date, investors were notified of the number of shares allotted to them based on their bids.

Shares of NTPC Green, whose initial public offering (IPO) was open for subscription from November 19 to November 22, are expected to be listed today, November 27.

Good morning and welcome to our live coverage of NTPC Green Energy mega listing today. Countdown has begun for the D-Stree debut of the third largest IPO of 2024. While the public issue has seen a robust response from the retail investors, the current GMP hints at modest listing. Stay with us for all pre-listing buzz, the actual listing and how markets respond.