NTPC Green Energy is AAA-rated, may explore ESG funds for debt financing, says CEO Rajiv Gupta

2 min read | Updated on November 27, 2024, 14:26 IST

SUMMARY

NTPC Green Energy share price: Gurdeep Singh, Chairman and Managing Director of NTPC, said that the listing of its subsidiary NTPC Green Energy is a landmark occasion.

The ₹10,000-crore NTPC Green Energy IPO had a price band of ₹102-₹108 per share.

NTPC Green Energy Share Price: Rajiv Gupta, Chief Executive Officer (CEO) of NTPC Green Energy Ltd, said that the renewable power company could explore ESG funds to raise debt as it is the only AAA-rated firm in the sector.

NTPC Green Energy shares debuted on the NSE at a premium of 3.24% at ₹111.50 per share from the issue price of ₹108 apiece.

At the BSE, it listed at ₹111.60, up 3.33%.

Speaking to Moneycontrol, Gupta said, "We are the only AAA-rated company in the renewable sector here, and we are able to access debt easily from domestic markets. Even we are trying to access the ESG funds. So, we have never had any issues as far as debt is concerned."

He said that the company's strategic growth is based on four pillars: solar energy, wind power, green molecules development, and energy storage.

Gurdeep Singh, Chairman and Managing Director of NTPC, told Moneycontrol that the listing of its subsidiary NTPC Green Energy is a landmark occasion.

"With this IPO, we are better positioned to drive forward our investments in solar, wind, and storage projects," he said.

NTPC Green Energy Share Price: Stock hits 10% upper circuit

After listing at a 3.2% premium, NTPC Green Energy shares hit their upper circuit mark.

The stock rose 10% to ₹122.65 apiece. The company's market capitalisation stands at ₹1,03,348.93 crore.

On the BSE, the scrip jumped 10% to ₹122.75.

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NTPC Green Energy IPO was subscribed 2.40 times. The price band was set at ₹102-₹108 per share.

The money raised will be used to the tune of ₹7,500 crore for debt repayment of its subsidiary NTPC Renewable Energy Ltd (NREL), as well as to serve general corporate purposes.

NTPC Green Energy is a 'Maharatna' central PSU with a renewable power portfolio that includes solar and wind energy assets.

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