NTPC Green Energy Won 1000 MW Power Project
Shares of NTPC Green Energy Ltd surged by nearly 4% on January 6th following the company’s subsidiary securing a 1000 MW power project from Uttar Pradesh Power Corporation Limited (UPPCL). The stock of NTPC Green Energy rose by 3.66% to reach Rs 133.05 on the Bombay Stock Exchange (BSE) today, pushing the market capitalization of the firm to Rs 1.09 lakh crore. The stock also witnessed a significant turnover of Rs 9.86 crore on BSE.
On November 4th, NTPC Green Energy shares reached a record high of Rs 155.30, marking a 9.28% increase during intra-day trading on BSE.
NTPC Renewable Energy (NTPC REL) secured a 1000 MW capacity at an impressive tariff rate of Rs 2.56/kWh. However, the company is still awaiting the Letter of Award (LOA) from UPPCL.
The wholly-owned subsidiary emerged as the successful bidder in the e-reverse auction conducted by UPPCL for selecting solar power developers to establish 2000 MW ISTS-connected solar PV power projects in India through Tariff-Based Competitive Bidding on January 3, 2025.
The stock of the state-run renewable energy company was listed at Rs 111.60 on BSE, reflecting a premium of 3.33% over its issue price of Rs 108. Similarly, the stock commenced its first trading session with a premium of 3.24% over the issue price at Rs 111.50 on the National Stock Exchange (NSE) on November 27th of the previous year.
The initial public offering (IPO) of NTPC Green Energy, based in Delhi, was open for subscription from November 19th to 22nd, 2024. The company successfully raised a total of Rs 10,000 crore through a fresh share sale of up to 92,59,25,926 equity shares. The company offered its shares in the price band of Rs 102-108 per share with a lot size of 138 shares. The issue was subscribed merely 2.42 times.
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