NTPC Green Energy shares surge over 3%, stock is now up 22% from issue price

The stock is now (as of Friday's high) up 22% from the issue price of ₹108. 

During the trade yesterday, NTPC Green Energy stock hit a high of ₹132.25 on the BSE. 

Shares of NTPC Green Energy Ltd were listed with a premium of over 3% against the issue price of ₹108 on Wednesday, November 27.

The stock made its debut at ₹111.60, up 3.33% from the issue price on the BSE. Later, it climbed 12.40% to ₹121.40.

On the NSE, it listed at ₹111.50, up 3.24%.

The initial public offering of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale last week. 

The ₹10,000 crore share sale had a price band of ₹102-108 per share.

Proceeds from the IPO, about ₹7,500 crore at the upper band, 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 be utilised for general corporate purposes.

NTPC Green Energy (NGEL) is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NGEL is an umbrella company for the green business initiatives of NTPC and undertakes projects through organic and inorganic routes and aims to be the flag-bearer of NTPC’s green energy journey to achieve the ambitious target of 60 GW by FY 32.

NTPC Green Energy on Thursday said its arm NTPC Renewable Energy has started commercial supply of electricity from the first part of 55 MW at the Shajapur solar project in Madhya Pradesh.

"Consequent upon successful commissioning, the first part capacity of 55 MW out of 105 MW of the Shajapur Solar Project (Unit-I) at Shajapur, MP, of NTPC Renewable Energy Ltd (a wholly owned subsidiary of NTPC Green Energy Ltd), is declared on commercial operation with effect from 00:00 hours of November 29, 2024," a BSE filing said.