NTPC Green Energy shares made a modest stock market debut on the National Stock Exchange (NSE) at a premium of over 3 percent on Wednesday, November 27, days after the Rs 10,000 crore issue was subscribed 2.42 times in the primary market.
NTPC Green Energy shares were listed at Rs 111.50 per share on the NSE, a premium of 3.24 percent over the IPO price of Rs 108 per share.
On the BSE, the NTPC Green Energy stock was listed at Rs 111.60 apiece at a premium of 3.33 percent.
NTPC Green Energy share price listing was better than the expectations in the grey market. NTPC Green Energy IPO GMP was flat on the listing day of the shares of the company.
NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
Proceeds from the IPO, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes.
Meanwhile, the state-owned NTPC said its green energy arm has set up a 50:50 joint venture with Maharashtra State Power Generation Company Ltd., to develop, operate and maintain renewable energy parks in the state.
Mahagenco NTPC Green Energy Private Limited (MNGEPL), was incorporated on November 25, 2024, as a 50:50 joint venture of NTPC Green Energy Ltd (NGEL), a wholly-owned subsidiary of NTPC Ltd and Maharashtra State Power Generation Company Ltd (MAHAGENCO), a Government of Maharashtra-owned company, according to a regulatory filing by NTPC on November 26.
The JV will be engaged in the business of developing, operating and maintaining renewable energy parks in Maharashtra under UMREPP and allot parks for development of Renewable Energy Projects, it added.
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