IPO Listing Overview
NTPC Green Energy Ltd made an impressive market debut on the National Stock Exchange (NSE) on November 27, 2024. The shares were listed at ₹111.5 each, representing a premium of 3.24% over the issue price of ₹108 per share.
Initial Trading Performance
As trading progressed, NTPC Green Energy shares demonstrated strong performance, closing 8.74% higher at ₹121.25 on the NSE. At 3:38 PM, the stock had made significant gains since its listing, illustrating robust investor interest.
Key Price Information
- Opening Price: ₹111.5
- Closing Price: ₹121.25 (+8.74%)
- Date of Listing: November 27, 2024
- High: ₹122.65
- Low: ₹111.5
- Issue Price: ₹108
Market Sentiment
- By 3:01 PM, NTPC Green Energy’s share price was reported to be surging, attributed to investor optimism and plans for utilizing IPO proceeds for debt repayment and general corporate expenses.
- A notable highlight was CEO Rajiv Gupta’s announcement regarding the company’s potential exploration of ESG funds for debt financing, emphasizing the company’s AAA rating.
Trading Volume Insights
- Traded Volume: 2,706.40 lakh
- Traded Value: ₹3,220.35 crore
- Market Capitalization: ₹1,03,129.85 crore
Fluctuating Stock Prices Throughout the Day
- At 10:27 AM, the stock hit the upper circuit limit, reaching ₹122.65 on the NSE.
- Trading was steady throughout the morning, with fluctuations reflecting active market participation, including a notable spike to ₹122.75 on the Bombay Stock Exchange (BSE) just after midday.
Strategic Use of IPO Proceeds
During trading hours, discussions emerged regarding the strategic use of the funds raised through the IPO:
- To repay or prepay debts of NTPC Renewable Energy Ltd.
- To cover general corporate expenses.
Company Overview
NTPC Green Energy, a subsidiary of NTPC Ltd established in April 2022, reported no dividends since inception, reflecting its reinvestment strategy in the burgeoning renewable energy sector. The IPO was largely successful, being subscribed 2.40 times overall, with substantial participation from retail investors.
Subscription Details
- Qualified Institutional Buyers (QIBs): 3.32 times
- Non-institutional Investors: 81%
- Retail Individual Investors (RIIs): 3.39 times
- A remarkable ₹3,960 crore was raised from anchor investors prior to the public offering.
Conclusion
The strong debut of NTPC Green Energy Ltd not only reflects positive investor sentiment toward the renewable energy sector but also signals robust market confidence in the company’s strategic vision and growth potential. As it continues to navigate the market and utilize the funds efficiently, NTPC Green Energy is positioned well for future expansion.
