NTPC Green Energy Share Price Updates: Stock Extends Gain After Lukewarm Debut

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NTPC Green Energy Share Price Updates: Stock Extends Gain After Lukewarm Debut

Shares of NTPC Green Energy Ltd. made their debut on Dalal Street today (November 27). While the IPO garnered strong interest from retail investors, the current GMP indicated a potentially subdued listing

November 27th, 2024 News

NTPC Green Energy Share Price Updates: Stock Extends Gain After Lukewarm Debut

Date: November 27, 2024

10:00 AM IST
NTPC Green Energy Ltd, the renewable energy arm of NTPC, marked its stock market debut today. The shares began trading on Indian exchanges after a highly anticipated IPO that ran from November 19 to November 22, 2024. Despite a lukewarm debut, the stock has shown resilience, rising over 6% post-listing.

IPO Highlights

IPO Period: November 19 to November 22, 2024
Price Band: ₹102 to ₹108 per share
Subscription Details:
- Retail Individual Investors (RIIs): 3.39 times
- Qualified Institutional Buyers (QIBs): 3.32 times
- Non-Institutional Investors: 81%
Funds Raised: ₹10,000 crore through a fresh equity issuance.
No OFS Component: The IPO did not feature an offer-for-sale, emphasizing fresh capital generation.

Listing Details

Listing Date: November 27, 2024
Listing Price:
- NSE: ₹111.50 (3.24% premium to the issue price of ₹108)
- BSE: ₹111.60 (3.33% premium to the issue price)

Post-Listing Performance

The stock extended gains after its initial flat debut. As of the latest updates, NTPC Green Energy shares have climbed over 6% since the opening bell.
The company's focus on renewable energy solutions and its position as a subsidiary of the Maharatna NTPC Ltd have attracted investor confidence.

Expert Views

Prashanth Tapse, Sr. VP Research and Analyst at Mehta Equities, commented:

"The listing was as expected, reflecting flat debut sentiment due to market conditions. However, NTPC Green Energy Ltd represents a significant long-term investment opportunity in India's renewable energy sector. We advise investors to hold the stock for long-term growth despite short-term market volatility."

For Non-Allotted Investors:
Mehta Equities suggests accumulating shares if the price remains near or below the issue price.

Company Overview

Sector Leadership: NTPC Green Energy Ltd is a key player in India’s renewable energy space, leveraging NTPC's expertise and resources.
Portfolio: The company has a robust portfolio of solar and wind power assets, positioning it at the forefront of sustainable energy solutions.
Mission: To advance India's energy transition towards clean and renewable sources.

Conclusion

The IPO’s successful subscription and the subsequent stock performance underscore growing investor interest in sustainable energy investments. NTPC Green Energy's entry into the market is a significant milestone for both the company and the renewable energy sector in India.

Stay tuned for further updates on NTPC Green Energy's market journey!