NTPC Green Energy shares posted a lacklustre D-Street debut with listing at Rs 111.60 apiece on the BSE, and Rs 111.50 apiece on the NSE on Wednesday
Market analysts remain optimistic on the long-term outlook but expect a muted listing gain for the company's shares
The initial public offering of NTPC Green Energy Ltd, the renewable energy arm of NTPC, got fully subscribed on the third day of the share sale on Friday. The Rs 10,000-crore share sale received bids for 60,68,16,774 shares, as against 59,31,67,575 shares on offer, translating into 1.02 times subscription, as per NSE data till 11:27 hours. The portion for Retail Individual Investors (RIIs) got subscribed 2.70 times. The quota for Qualified Institutional Buyers (QIBs) fetched 75 per cent subscription, while the non-institutional investors part got subscribed 42 per cent. NTPC Green Energy has mobilised Rs 3,960 crore from anchor investors. The initial share sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component. The issue has a price band of Rs 102-108 per share. Proceeds from the IPO to the tune of Rs 7,500 crore 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 b
NTPC Green Energy IPO has seen the highest demand from retail investors, with their reserved portion oversubscribed by 1.99 times
Vneet Jaain, former chief executive officer at Adani Green Energy along with Adanis, prosecutors said, raised over $3 billion in loans and bonds by hiding their corruption from lenders and investors
NTPC Green Energy IPO: Trading strategies for NTPC, Power Grid and other listed power stocks on the BSE, NSE.
NTPC Green Energy has reserved 10 per cent of its IPO specifically for existing NTPC shareholders, sparking interest in whether applying through this shareholder quota might improve allotment chances
Here is the complete list of companies whose shares will turn ex-dividend date tomorrow along with other key details
The rise in NTPC share price came after the market regulator Securities and Exchnage Board of India (Sebi) approved NTPC Green Energy's initial public offering (IPO)
The GIFT Nifty indicated a flat start, with an uptick of 12 points at 6:35 AM, trading at 24,464.5
At 7:28 AM, GIFT Nifty indicated a flat opening as it was trading about 3.5 points lower at 24448.50 levels, as against Nifty Futures last close of 24,452.
NTPC is displaying a strong uptrend, characterised by a steady pattern of higher highs and higher lows.
The surge in the NTPC share price came after the company filed Initial Public Offering (IPO) papers for its green energy arm, NTPC Green Energy Limited (NGEL).
Apollo Pipes has recently demonstrated a classic technical pattern known as a triple bottom around its historical support level near the Rs 600-mark.
At 10:03 am; with Rs 3.96 trillion market cap NTPC stock was trading 3.6 per cent higher at Rs 408 on the BSE.
NTPC, Power Grid contributed over 100 points to the BES Sensex so far; while, heavyweights HDFC Bank, Reliance and ICICI Bank were the chief laggards.
State-owned power giant NTPC on Tuesday said its board on June 29 will consider a proposal to raise up to Rs 12,000 crore through the issuance of bonds. The board of directors is scheduled to meet in New Delhi on Saturday, June 29, to consider issue of "secured/ unsecured, redeemable, taxable/tax-free, cumulative/noncumulative, non-convertible debentures up to Rs 12,000 crore", subject to approval of shareholders in the ensuing Annual General Meeting, a BSE filing said. NTPC is India's one of the leading power-generating companies. Total Income of the NTPC group for FY24 was Rs 1,81,166 crore against Rs 177,977 crore in the previous year. The PAT of the group for FY24 was Rs 21,332 crore against the previous year's PAT of Rs 17,121 crore, registering an increase of almost 25 per cent. The company recently told analysts in a concall that it has various capital expenditure projects such as ongoing projects and new capacity addition programs including Flue Gas Desulphurisation (FGD) ..
The Nifty PCR data suggests that the index may attempt a rally towards 23,700 level ahead of the June series expiry; On the downside, strong support is expected around 23,350 - 23,290.
Government-owned shares witnessed intense selling pressure as analysts feared that the relatively poor showing of the Modi-government may impact its reforms agenda.
ICICI Securities stressed upon NTPC's position in the increasing total addressable market for power capex, benefiting from both conventional and renewables sectors