NTPC shares jump 2% after NTPC Green Energy’s listing today
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Shares of NTPC jumped 2.3% today to a high of Rs 370.25 on the BSE as its green energy arm NTPC Green Energy got listed on the bourses today, surging 10%, post a subdued listing. Meanwhile, the Shares of NTPC Green Energy jumped to Rs 122.75 to hit their upper circuit. The stock debuted at Rs 111.6 on the BSE, reflecting a premium of Rs 3.6 or 3.25% over the IPO price of Rs 108. NTPC Green, a subsidiary of NTPC, is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 24 and power generation in FY24. The proceeds from the Rs 10,000 crore IPO will be used for investment in its wholly-owned subsidiary, NTPC Renewable Energy, for the repayment of debt and other general corporate purposes. The company’s renewable energy portfolio encompasses both solar and wind power assets with presence across multiple locations in more than six states which helps mitigate the risk of location-...