NEW DELHI: NTPC shares settled at an all time high at Rs 424 on BSE, surging over 2 per cent on Thursday, after its renewable energy arm, NTPC Green Energy, filed preliminary papers with Sebi to raise Rs 10,000 crore through an Initial Public Offering (IPO). The stock climbed 4.34 per cent to Rs 431.85 during the trading session.
Additionally, the company’s market valuation increased Rs 9,842.12 crore to Rs 4,11,138.64 crore.
The IPO consists entirely of a fresh issuance of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP).
NTPC Green Energy said the Rs 7,500 crore raised from the IPO would be used to repay or prepay outstanding loans for some or all of the subsidiary NTPC Renewable Energy Ltd (NREL) and a part of it would be utilized for business purposes.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a strong presence in the renewable energy sector, including solar and wind power assets.
The lead book-running managers of the issue are IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management.
Additionally, the company’s market valuation increased Rs 9,842.12 crore to Rs 4,11,138.64 crore.
The IPO consists entirely of a fresh issuance of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP).
NTPC Green Energy said the Rs 7,500 crore raised from the IPO would be used to repay or prepay outstanding loans for some or all of the subsidiary NTPC Renewable Energy Ltd (NREL) and a part of it would be utilized for business purposes.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a strong presence in the renewable energy sector, including solar and wind power assets.
The lead book-running managers of the issue are IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management.
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