NTPC shares soar greater than 4% as renewable power arm information draft papers to lift ₹10,000 crore by way of IPO

NTPC Inexperienced Power is a ‘Maharatna’ Central Public Sector Enterprise with renewable power portfolio, together with photo voltaic and wind energy property. File
| Picture Credit score: Reuters

Shares of NTPC jumped by greater than 4% to hit an all-time excessive on Thursday (September 19, 2024) after NTPC Inexperienced Power, the renewable power arm of the agency, filed preliminary papers with capital markets regulator Securities and Trade Board of India (SEBI) to lift ₹10,000 crore by an Preliminary Public Providing (IPO).

The inventory climbed 4.34% to ₹431.85 — its file excessive — on the BSE. On the NSE, it surged 4.27% to ₹431.85 — the all-time excessive.

The preliminary share-sale is completely a contemporary issuance of fairness shares with no Supply For Sale (OFS) part, in line with the Draft Purple Herring Prospectus (DRHP).

The renewable power agency mentioned proceeds of the difficulty to the tune of ₹7,500 crore can be used to repay or prepay half or all of its subsidiary NTPC Renewable Power Restricted’s (NREL) excellent loans, whereas a portion can be utilised for common company functions.

NTPC Inexperienced Power is a ‘Maharatna’ Central Public Sector Enterprise with renewable power portfolio, together with photo voltaic and wind energy property.

IDBI Capital Markets & Securities, HDFC Financial institution, IIFL Securities, and Nuvama Wealth Administration are the book-running lead managers to the difficulty.